JAKARTA. PT Agro Bahari Nusantara Tbk (UDNG), a shrimp farming company, has set the Initial Public Offering (IPO) share offering price at IDR 100 per share.

The offering price is right at the upper limit of the initial offering price (book building) previously submitted by UDNG, namely IDR 90 to IDR 100 per share. With this offering price, the company has the potential to gain fresh funds of up to IDR 50 billion.

As stated in the prospectus, UDNG will release 500 million shares in the IPO. This is equivalent to 28.57% of the company's issued and fully paid-up capital. Each share has a nominal value of IDR 10.

The public offering of UDNG shares will take place on 23-27 November 2023. Meanwhile, the listing of shares on the Indonesia Stock Exchange (BEI) is scheduled for 30 October 2023.

The underwriters for the UDNG IPO are PT MNC Sekuritas and PT Korea Investment and Sekuritas Indonesia. (KR/LM)