JAKARTA. PT Pulau Subur Tbk (PTSP), a palm plantation company, will initiate the public offering (IPO) by issuing 450 million shares in Indonesia Stock Exchange (IDX).

The entire shares offered by PTSP is equal to 20.76% of its issued and paid-up capital post-IPO. Each share has a face value of IDR 20 per share, and will be offered for IDR 198 to IDR 206 per share.

Assuming that PTSP will proceed with the highest offering price, PTSP potentially gains fresh funds of up to IDR 92.7 billion from its IPO.

PTSP has assigned PT NH Korindo Sekuritas Indonesia as the underwriter. The public offering is projected to take place on October 3-5, 2023, followed by the distribution of shares on October 6, 2023, and the listing on October 9, 2023.

Based on the issued prospectus, PTSP is now focusing in palm plantation expansion. The company is currently holding a location license over 1,180.39 Ha of land, consisting of 94.89 Ha of immature plant area and 995.75 Ha of mature plant area. (KR/ZH)