JAKARTA. PT Kokoh Exa Nusantara Tbk (KOCI), a construction and real estate company, is set to debut through initial public offering (IPO) by issuing 450 million shares.

The number of shares issued by KOCI is equal to 10.19% of its total issued and paid-up capital post-IPO. Each share has a face value of IDR 10 and will be offered for a price ranging from IDR 120 to IDR 160 per share.

With this offering price, KOCI may potentially rake in IDR 54 billion to IDR 72 billion of fresh funds from this IPO.

KOCI has assigned PT Panca Global Sekuritas as the underwriter. The book building is set to take place on September 7-12, followed by the public offering that will be held from September 27 to October 4, 2023. It will then be listed on Indonesia Stock Exchange (IDX) on October 10, 2023.

In the issued prospectus, KOCI is said to allocate most of the IPO proceeds to capital expenditure. Furthermore, it will reserve another portion to its operational expenditure. (KR/ZH)