JAKARTA. PT Multitrend Indo Tbk (BABY), a retail company for children clothing and toys, has set the price for its initial public offering (IPO) to IDR 266 per share.

Said offering price is the highest of the range set by BABY during the book building phase, from IDR 250 to IDR 266 per share. With said price level, the company will end up collecting fresh funds of up to IDR 142.04 billion from this IPO.

For the record, the number of shares offered by BABY in its IPO is 534 million units. These are equal to 20.01% of its total issued and paid-up capital post-IPO.

Later, 18.23% of IPO proceeds will be allocated by BABY to expand its business through capital expenditure (capex). Then, another 81.77% will be utilised for operational needs of the company.

The public offering period of BABY’s IPO will take place until September 5, 2023. The distribution of shares will then follow on September 6, 2023, while the listing on Indonesia Stock Exchange (IDX) is set to September 7, 2023. (KR/ZH)