JAKARTA. PT Paperocks Indonesia Tbk (PPRI), a major company engaged in the paper and carton industry, will begin its initial public offering (IPO) of 275 million shares in Indonesia Stock Exchange (IDX).

The number of shares issued by PPRI is equal to 25.58% of the issued and paid-up capital post-IPO. Each share has a face value of IDR 50 and will be offered for a price ranging between IDR 130 and IDR 150 per share.

Assuming that the offering price is set to IDR 150 per share, PPRI will potentially end up with IDR 41.25 billion of fresh funds at the end of the corporate action.

The bookbuilding of PPRI’s shares will last until July 24, 2023, followed by the public offering on August 2-4, 2023. The listing on IDX is scheduled to take place on August 8, 2023. PPRI has assigned PT Indo Capital Sekuritas as the underwriter in this IPO.

The entire IPO proceeds will then be allocated to the company’s working capital. It includes funding the supply of paper cups, paper bowls, paper bags, and paper wraps.

As of now 35% of PPRI is under the control of Dilon Sutandar. Philip Sumali has another 35%, and Catur Jatiwaluyo claims another 30%. (KR/ZH)