JAKARTA. PT Carsurin Tbk (CRSN), a company engaged in the Inspection, Testing, and Certification (ITC) service industry, is arranging its initial public offering (IPO) of 600 million shares in Indonesia Stock Exchange (IDX).

The shares offered by CRSN are equal to 20.75% of the issued and paid-up capital of the company post-IPO. Each share has a face value of IDR 50, and will be offered for a price ranging between IDR 120 and IDR 125 each.

Assuming that CRSN will set the offering price to its highest, of IDR 125 per share, the company may collect IDR 75 billion of fresh funds through this corporate action.

The book building is scheduled to last from June 16 to 21, 2023, followed by the public offering from July 3 to 5, 2023. Meanwhile, the stock listing on IDX is projected to take place on July 7, 2023.

According to IDNFinancials data, CRSN has been commercially active since 1968. The company provides independent, third-party technical service and solution for various industries, ranging from coals, mineral and metal, oil and gas, and industrial tools.

As of now, CRSN manages 20 branch offices located in different regions, as well as 15 multi-purpose laboratories that will continue to expand in numbers. Until December 31, 2022, the company recorded total assets of IDR 170.09 billion, while its equity was worth IDR 114.53 billion. (KR/ZH)