JAKARTA. PT Asri Karya Lestari Tbk (ASLI), a construction contractor, has set the price of its initial public offering (IPO) to IDR 100 per share.

Said price is at the lower range of the bookbuilding price range announced by ASLI previously, starting from IDR 100 to IDR 130 per share. At this rate, ASLI will only raise IDR 125 billion of fresh funds at max from its IPO.

For the record, the number of shares that will be offered by ASLI in the IPO is 1.25 billion shares, which are equal to 20% of its enlarged issued and paid-up capital post-IPO.

In the issued prospectus, it is mentioned that ASLI plans to allocate approximately 66.35% of IPO proceeds as working capital to its subsidiary. The remainder will then be used as its own working capital.

ASLI has named PT NH Korindo Sekuritas Indonesia as its underwriter in the IPO. The public offering will take place until tomorrow (3/1), while the stock listing is scheduled on January 5, 2024. (KR/ZH)