JAKARTA. PT Bersama Mencapai Puncak Tbk (BAIK), the company that owns the Ayam Goreng Nelongso culinary business, will carry out an Initial Public Offering (IPO) on the Indonesia Stock Exchange (BEI) by releasing 225 million shares.

The number of shares offered by BAIK is equivalent to 20% of the issued and fully paid capital. Each share has a nominal value of IDR 50 and will be offered at a price of IDR 268 to IDR 278 per share.

Assuming the offering price is at the upper limit of IDR 278 per share, BAIK has the potential to raise fresh funds of up to IDR 62.55 billion from the IPO.

BAIK appointed PT MNC Sekuritas as the underwriter for the IPO. The initial offering period (book building) is scheduled for 19-24 February 2024. The public offering is expected to take place on 2-12 February 2024 and the shares will be listed on the stock exchange on 15 February 2024.

Currently, 98.77% of BAIK's shares are controlled by PT Anak Baik Sejahtera. Nanang Suherman has 0.86% and Yeni Isnawati 0.37%.

For the record, BAIK's total assets were recorded at IDR 77.72 billion as of July 30 2023. Meanwhile, its total equity was recorded at IDR 77.72 billion. (KR/LM)