JAKARTA. PT Griptha Putra Persada Tbk (GRPH) will hold its Initial Public Offering (IPO) in Indonesia Stock Exchange (IDX) by issuing 200 million shares.

The number of shares issued by GRPH is equal to 20 of its issued and paid-up capital of its company. Each shares has a face value of IDR 25 per share, and will be offered for a price ranging from IDR 100 to IDR 105 per share.

Assuming that the company set the offering price to the highest, IDR 105 per share, GRPH potentially ends up raising IDR 21 billion from IPO.

According to the issued prospectus, GRPH plans to utilise 48.76% of IPO proceeds to improve hotel. Another 4.13% will be allocated to the Flamexpress fast food chain, while 3.36% will be used to rent outlets of The Flamexpress, leaving the remaining to the working capital. 

GRPH has assigned PT Elit Sukses Sekuritas as its lead underwriter. The book building will last until December 28, 2023, while the main public offering is set to to January 12-16, 2024. The listing will follow on January 18, 2024. (KR/ZH)