JAKARTA. PT ITSEC Asia Tbk (CYBR), a cyber security company with total assets worth IDR 99.35 billon, will put up 1 billion units of its shares in the market in an initial public offering (IPO).

The number of shares issued by CYBR is equal to 15.64% of its issued and paid-up capital post-IPO. Each share has a face value of IDR 25, and will be released to the public for IDR 100-110 per share.

Assuming that the company sets the offering price to the highest level at IDR 110 per share, CYBR will potentially raise fresh funds of up to IDR 110.96 billion from this IPO.

CYBR has assigned PT Mirae Asset Sekuritas Indonesia as the underwriter. The public offering period is scheduled to last from August 2 to 4, 2023, followed by the listing on Indonesia Stock Exchange (IDX) on August 8, 2023.

According to IDNFinancials data, CYBR booked total assets of IDR 99.35 billion as of January 31, 2023. The total equity was recorded at IDR 35.46 billion.

As of now, CYBR is managing three offices in three different countries, including Indonesia, Singapore, and Australia. Two of its core businesses are Managed Security Services (MSS) and Professional Security Services (PSS). (KR/ZH)