JAKARTA. PT Mutuagung Lestari Tbk (MUTU), a testing and certification service provider, will initiate its public offering (IPO) in Indonesia Stock Exchange.

The number of shares offered by MUTU in this IPO is 942,86 million shares, equal to 39% of the issued and paid-up capital of the company. Each share is valued at IDR 25, and will be offered for a price ranging between IDR 105 and IDR 110 per share.

Assuming that the company will proceed with the offering price of IDR 105 per share, MUTU will gain IDR 103.71 billion of fresh funds at the end of this corporate action.

MUTU has named PT Trimegah Sekuritas Indonesia Tbk (TRIM) as its lead underwriter. The book building stage is scheduled to take place from July 12 to 24, 2023, followed by the main public offering on August 2-7, 2023, before finally being listed on August 9, 2023.

As of now, 45% of MUTU are under the control of oleh PT Sentra Mutu Handal. Then, another 40% belongs to PT Bina Utama, leaving the remaining 15% to PT Afda Ekselensi Lintas.

Until March 31, 2023, MUTU recorded total assets of IDR 79.66 billion and total equity of IDR 79.38 billion. The percentage ratio of net profit to revenue was at 13.73%, while the liabilities-to-equity ratio was at 1.02. (KR/ZH)