JAKARTA. PT Mitra Pedagang Indonesia Tbk (MPIX), the company that owns and manages the MPStore e-commerce platform will carry out an Initial Public Offering (IPO) of 312.5 million shares.

The number of shares to be offered by MPStore is equivalent to 20% of the issued and fully paid capital. Each share has a nominal value of IDR 20 and will be offered at an offering price of IDR 256 to IDR 268 per share.

Assuming the offering price is at the upper limit of IDR 268 per share, MPStore has the potential to reap fresh funds of up to IDR 83.75 billion from the IPO.

MPStore has appointed PT RHB Sekuritas Indonesia as the underwriter for the IPO. The initial offering (bookbuilding) period for shares will last until January 24, 2024. Meanwhile, the public offering is scheduled for January 31 - February 2 2024.

According to data compiled by idnfinancials.com, MPStore offers a complete solution to encourage the performance growth of Micro, Small and Medium Enterprises (MSMEs). Some of the features offered by MPStore via its digital platform are Digital Payment, Cashier Application, E-Grocery solutions, and access to People's Business Credit (KUR) capital. (KR/LM)