JAKARTA. PT Sinar Eka Selaras Tbk (ERAL), a subsidiary of PT Erajaya Swasembada Tbk (ERAA), will carry out an Initial Public Offering of 1.03 billion shares on the Indonesia Stock Exchange (IDX).

The number of shares offered is equivalent to 20% of the issued and fully paid capital after the IPO. Each share has a nominal value of IDR 100 per share, and will be offered at IDR 370 to IDR 410 per share.

Assuming the offering price is at the upper limit of IDR 410 per share, ERAL has the potential to reap fresh funds of IDR 425.38 billion from this corporate action.

ERAL has appointed PT Mirae Asset Sekuritas Indonesia and PT BNI Sekuritas as underwriters for the issuance. The initial offering period (book building) for ERAL shares will take place on 14-26 July 2023. The public offering is scheduled to take place on 2-4 August 2023 and the listing of shares on the stock exchange on 8 August 2023.

According to data from idnfinancials.com, currently 99.99% of ERAL's shares are controlled by ERAA. The rest is owned by Jemmy Hady Wijaya. (KR/LM)