JAKARTA. PT Lovina Beach Brewery Tbk (STRK), an alcoholic beverage distributor from Bali, will carry out an Initial Public Offering (IPO) by releasing 1.18 billion shares.

The number of shares is equivalent to 11.01% of STRK's issued and fully paid capital after the IPO. Each share has a nominal value of IDR 12 and will be offered at a price of IDR 100 to IDR 119 per share.

Assuming an offering price of IDR 119 per share, STRK has the potential to raise IDR 140.42 billion in fresh funds from the IPO.

STRK has appointed PT Artha Sekuritas Indonesia as the underwriter for the securities issuance. The initial offering period (book building) will take place from 6-20 September 2023. Share distribution will take place on 9 October 2023 and the listing of shares on the Indonesia Stock Exchange (BEI) on 10 October 2023.

In general, most of the proceeds from STRK's IPO will be allocated for capital investment in subsidiaries. A portion will also be allocated for the company's operational needs and working capital. (KR/LM)