JAKARTA. PT Ingria Pratama Capitalindo Tbk (GRIA), a real estate with total assets of IDR 394.86 billion, will begin its initial public offering (IPO) in Indonesia Stock Exchange (IDX).

The number of shares offered by GRIA in its IPO is 2.94 billion shares, which are equal to 37.81% of the issued and paid-up capital post-IPO. Each share has a face value of IDR 20, and will be offered for a price ranging between IDR 115 and IDR 120 per share.

Assuming that the offering price is set to IDR 120 per share, GRIA potentially raises fresh funds of up to IDR 353.91 billion from the IPO.

Based on the prospectus, GRIA plans to utilise most of the proceeds of the IPO for paying off its debts. On top of this, the company will also allocate some portions to working capital.

GRIA has assigned PT Erdhika Elit Sekuritas as the lead underwriter. The book building of shares will take place until this Monday (24/7). The public offering of the shares is projected to take place from August 2 to 4, 2023, followed by the listing on IDX on August 8, 2023. (KR/ZH)