JAKARTA. PT Mandiri Herindo Adiperkasa Tbk (MAHA), a mining supporting service provider, will conduct its initial public offering (IPO) of 4.16 billion of shares.

The number of shares offered by MAHA is equal to 25% of its issued and paid-up capital post-IPO. Each share has a face value of IDR 60, and will be offered for a price ranging from IDR 118 to IDR 128 per share.

Assuming that MAHA will go with the highest offering price of IDR 128 per share, it might potentially gain fresh funds of up to IDR 533.25 billion from this corporate action.

MAHA has assigned PT Trimegah Sekuritas Indonesia Tbk (TRIM) as the lead underwriter in this IPO. The book building will last from June 26 to July 6, 2023, followed by the public offering on July 18-21, 2023. The listing on Indonesia Stock Exchange (IDX) will then take place on July 25, 2023.

Based on the information received by IDNFinancials, MAHA plans to utilise 60% of the IPO proceeds for purchasing new trucks, whereas another 40% will be spent on acquiring 50 units of dollies and 100 units of vessels to increase production capacity and rejuvenate the units. (KR/ZH)