JAKARTA. PT Janu Putra Sejahtera Tbk (AYAM), a company operating in the livestock and chicken slaughterhouse sector, will carry out an Initial Public Offering (IPO) of 800 million new shares on the Indonesia Stock Exchange (BEI).

The number of shares to be offered is equivalent to 20% of AYAM's issued and paid-up capital after the IPO. Each share has a nominal value of IDR 25 and will be offered at a price range of IDR 100 to IDR 110 per share.

Assuming the offering price is at the upper limit of IDR 110 per share, AYAM has the potential to reap fresh funds of up to IDR 88 billion.

The initial offering (bookbuilding) period for AYAM shares will be held on 10-16 November 2023. The public offering is scheduled for 24-28 November 2023 and the shares will be listed on the stock exchange on 30 November 2023.

In implementing the IPO, AYAM appointed PT UOB Kay Hian Sekuritas as the underwriter for the securities issuance. Meanwhile, the securities underwriter will be determined later.

Based on the initial prospectus released, AYAM will allocate part of the proceeds from the IPO to purchase a number of land. Apart from that, the company will also allocate part of the IPO funds to pay liabilities and working capital. (KR/LM)