JAKARTA. PT Multitrend Indo Tbk (BABY), a baby clothing and toy manufacturer, will conduct its initial public offering (IPO) of 600 million shares in Indonesia Stock Exchange (IDX).

The number of BABY’s shares offered in IPO is equal to 21.28% of the issued and paid-up capital of BABY post-debut. Each share has a face value of IDR 25 and will be offered with a price ranging from IDR 250 to IDR 266 per share.

By setting the offering price to that range, BABY will potentially raise fresh funds of approximately IDR 150 billion to IDR 159.6 billion from this IPO alone.

In addition to this, BABY will also issue 1.42 billion new shares for debt conversion, matching the IPO price. The number of shares issued by the company for this debt conversion is equal to 50.35% of its total paid-up capital.

BABY has assigned PT UOB Kay Hian Sekuritas as the lead underwriter. The book building is set to August 14-22, 2023, while the public offering will take place from August 31 to September 5, 2023, followed by the listing on IDX on September 7, 2023. (KR/ZH)