JAKARTA. PT Nusantara Sejahtera Raya Tbk (CNMA), widely known as Cinema XXI, will begin the initial public offering (IPO) of 8.33 billion of new shares.

The number of shares issued by CNMA is equal to 10% of its total issued and paid-up capital. Each share is valued at IDR 8 per share, and will be offered for a price ranging between IDR 270 and IDR 288 per share.

Assuming that the company sets the offering price to IDR 288 per share, CNMA will potentially gain fresh funds of up to IDR 2.4 trillion from this corporate action.

CNMA has assigned 4 security companies as the lead underwriters, which consist of PT Indo Premier Sekuritas, PT J.P. Morgan Sekuritas Indonesia, PT Mandiri Sekuritas, and PT UBS Sekuritas Indonesia.

The book building of CNMA will take place from July 10 to 14, while the public offering is scheduled on July 25, before finally being listed on Indonesia Stock Exchange (IDX) on August 2, 2023.

As of now, 79.99% of CNMA’s shares are controlled by PT Harkatjaya Bumipersada. Then, another 20% belong to Adi Pratama Nusantara, leaving the remaining 0.01% to Salween Investment Private Limited. (KR/ZH)