JAKARTA. PT Lovina Beach Brewery Tbk (STRK), an alcoholic beverage manufacturer and distributor, has set the price of its Initial Public Offering (IPO) to IDR 100 per share.

Said level price is at the lowest range previously announced during the book building, which goes from IDR 100 to IDR 119 per share. With this price, STRK will only be able to raise fresh funds of a maximum of IDR 118 billion from the IPO.

In the issued prospectus, STRK plans to utilise 54.37% of IPO proceeds as additional capital for it's subsidiary. The remainder will then be used as working capital.

STRK has assigned PT Artha Sekuritas Indonesia as its lead underwriter, while PT Panca Global Sekuritas, PT KGI Sekuritas Indonesia, and PT Waterfront Sekuritas Indonesia will step in as underwriters. The public offering will last until October 5, 2023, before being listed on Indonesia Stock Exchange (IDX) on October 9, 2023.

As of now, 85.74% of STRK's shares are under the control of PT Barito Mas Sukses. The remaining portion belongs to individual shareholders, with ownership percentage of below 3.5% each. (KR/ZH)