JAKARTA. PT Multikarya Asia Pasifik Raya Tbk (MKAP), an oil, gas and mining equipment manufacturer and service provider, is scheduling its initial public offering (IPO), setting up the issuance of 650 million shares.

The number of shares offered by MKAP is equal to 20% of its total issued and paid-up capital. Each share is valued at IDR 50, and will be offered for a price ranging from IDR 105 to IDR 120 per share.

Assuming that the IPO price is set to its highest, of IDR 120 per share, MKAP will potentially collect fresh funds of IDR 78 billion from IPO.

MKAP has appointed PT Lotus Andalan Sekuritas as the lead underwriter. The book building was concluded on January 25, 2024.

The public offering is scheduled to take place from February 1 to 6, 2024, followed by the stock listing on February 12, 2024. (KR/ZH)