JAKARTA. PT Platinum Waham Nusantara Tbk (TGUK), a food & beverage company (FNB) with the flagship brand Teguk, will carry out an initial public offering (IPO) by releasing 1.07 billion shares.

The number of shares offered by TGUK is equivalent to 30% of the issued and fully paid capital after the IPO. Each share has a nominal value of IDR 16 and will be offered at IDR 105 to IDR 112 per share.

Assuming an offering price of IDR 112 per share, TGUK has the potential to reap fresh funds of up to IDR 120 billion from the IPO.

The initial offering period for TGUK shares will be held on 19-23 June 2023. The public offering will be held on 28 June 2023 and the listing of shares on the Indonesia Stock Exchange (IDX) on 7 July 2023.

Based on the released prospectus, TGUK plans to use around 60% of the proceeds from the IPO for capital expenditure, detailing the development and addition of outlets. The rest will be used for the company's working capital.

As of 31 December 2022, TGUK had total assets of IDR 76.16 billion. Meanwhile, the company's total equity was recorded at IDR 59.28 billion. (KR/LM)