JAKARTA. PT Amman Mineral Internasional Tbk (AMMN), the second biggest copper and gold mining company in Indonesia, has set the price in the Initial Public Offering (IPO) to IDR 1,695 per share.

With this price level, AMMN will potentially end up collecting fresh funds of up to IDR 10.72 trillion from this IPO. Prior to this, last May 2023, the company announced that the price of the shares will be set to the range between IDR 1,650 and IDR 1,775 each.

For the record, AMMN plans to issue 6.32 billion shares in IPO. The number of shares issued by this company is equal to 8.80% of its issued and paid-up capital post-IPO.

The public offering of AMMN’s shares begins today (3/7) and will be concluded on July 5, 2023. Initially, the company aims to conduct this IPO from June 28 to July 3, 2023.

As mentioned by IDNFinancials before, AMMN aims to utilise approximately IDR 1.78 trillion of the proceeds of the IPO to fund the smelting facility project in West Sumbawa. Then, another IDR 3.04 trillion will be used to pay off loans to PT Amman Mineral Nusa Tenggara, leaving the remainder to support the Integrated Gasification Combined Cycle Plants (lit. Pembangkit Listrik Tenaga Gas dan Uap/PLTGU). (KR/ZH)