JAKARTA. PT Anugerah Spareparts Sejahtera Tbk (AEGS), a manufacturer of automotive filters, is scheduling its initial public offering (IPO) of 400 million shares in Indonesia Stock Exchange (IDX).

The number of shares issued by AEGS is equivalent to 3976% of its issued and paid-up capital post-IPO. Each share has a face value of IDR 50, while the offering price is projected to reach IDR 90 to IDR 100 per share.

With said range, AEGS will potentially bag fresh funds of IDR 36 billion to IDR 40 billion from this IPO.

The public offering of AEGS is set to take place from September 4 to 7, 2023, followed by the listing on IDX on September 11, 2023.

In the issued prospectus, AEGS is said to allocate approximately IDR 10.3 billion of IPO proceeds for land acquisition. Then, 3.16% of IPO proceeds will be used to build a new warehouse, while another 9.16% is for capital expenditure, particularly operation-supporting plant. The remaining will be stored as working capital.

In this IPO, AEGS has named PT Shinhan Sekuritas Indonesia as the lead underwriter. (KR/ZH)