JAKARTA. PT Tripar Multivision Plus Tbk (RAAM), a film production house of the Punjabis, had set the initial public offering (IPO) price to IDR 234 per share.

The final IPO price of RAAM is only a slight higher than the lowermost price in the range announced during the book building, from IDR 224 to IDR 250 per share. With said amount of offering price, the company will potentially secure IDR 217.4 billion at the end of this IPO.

According to the official statement received by IDNFinancials, RAAM will allocate approximately 81.60% of IPO proceeds to the company’s working capital. It will also include covering the film production and marketing costs. Meanwhile, the remaining 18.40% will be set aside for capital investment for PT Platinum Sinema, its subsidiary.

As of now, 99.05% of RAAM’s shares are still under the control of Ram Jethmal Punjabi. Then, another 0.95% belongs to PT Tripar Multi Image. After the IPO, public investors are expected to share 15% of the shares at most.

The main public offering of RAAM’s shares starts today (2/5) until May 4, 2023. Then, the electronic distribution of shares is set to May 5, 2023, followed by the listing on Indonesia Stock Exchange (IDX) on May 8, 2023.

Regarding the IPO, RAAM has assigned PT Sucor Sekuritas and PT UOB Kay Hian Sekuritas as the lead underwriter and underwriter, respectively. (KR/ZH)