JAKARTA. PT Tripar Multivision Plus Tbk (RAAM), the company that owns the Multivision Plus film production house, conducted an Initial Public Offering (IPO) by releasing 929.2 million shares.

The number of shares offered by RAMM is equivalent to 15% of the issued and paid-up capital after the IPO. Each share has a nominal value of IDR 60 per share, and will be offered at a price range of IDR 224 to IDR 250 per share.

Assuming the share offering price is at the upper limit of IDR 250 per share, RAAM will reap fresh funds of up to IDR 232.3 billion.

RAAM has appointed PT Sucor Sekuritas and PT UOB Kay Hian Sekuritas as underwriters for the issuance. The initial offering (book building) period for RAAM shares will take place on 11-18 April 2023. The public offering is scheduled for 3-5 May 2023 and the listing of shares on the Indonesia Stock Exchange (IDX) on 9 May 2023

Currently, 99.05% of RAAM's shares are controlled by Ram Jethmal Punjabi. Meanwhile, the remaining 0.95% shares are owned by PT Tripar Multi Image. (KR/LM)