JAKARTA. PT Satu Visi Putra Tbk (VISI), a large trading company for advertising and printing materials, will carry out an Initial Public Offering (IPO) on the Indonesia Stock Exchange (BEI) by releasing 615 million shares.

The number of shares that will be offered by VISI is equivalent to 20% of the total issued and fully paid capital after the IPO. Each share has a nominal value of IDR 25 per share, and will be offered at a price of IDR 110 to IDR 120 per share.

Assuming the offering price is at the upper limit of IDR 120 per share, VISI has the potential to gain fresh funds of up to IDR 73.8 billion from the IPO.

VISI has appointed PT Surya Fajar Sekuritas as the underwriter for the securities issuance. The initial offering (book building) period for shares is scheduled for 29 January - 5 February, 2024. The public offering of shares is expected to take place on 21-27 February, 2024 and the listing of shares on the stock exchange on 29 February, 2024.

In the initial prospectus submitted, VISI plans to use around 3.49% of the IPO proceeds to purchase a transportation fleet. The remainder will be used for working capital, including purchasing inventory. (KR/LM)