JAKARTA. PT Logisticsplus Internataional Tbk (LOPI), a freight forwarding service company, has decided to set the price for its Initial Public Offering (IPO) to IDR 100 per share.

Said offering price is right at the lowest of the price range announced by LOPI in its book building, which goes from IDR 100 to IDR 150 per share. At this price point, the company would only be able to rake in a maximum of IDR 30 billion from this IPO. 

In the IPO prospectus, LOPI mentioned that it will allocate 60% of the proceeds to enhance operational expenditures. Then, another 31% will be directed to fleet reinforcing, while the remaining 9% is for the acquisition of Cargo Wise software. 

LOPI has named PT Elit Sukses Sekuritas as its underwriter for this IPO. The public offering period will last until October 9, 2023, followed by the listing on Indonesia Stock Exchange (IDX) on October 11, 2023. 

Until March 31, 2023, LOPI recorded total assets of IDR 36.75 billion, similar to its total equity that clocked up to IDR 36.74 billion. (KR/ZH)