JAKARTA. PT Ecocare Indo Pasifik Tbk (HYGN), a company operating in the management and rental of cleaning equipment, has set its Initial Public Offering (IPO) share price at IDR 145 per share.

This pricing is right at the upper limit, from the initial offering price (book building) previously submitted by HYGN, namely IDR 125 per share. With the offering price that has been set, the company has the potential to gain fresh funds of up to IDR 76.12 billion from the IPO.

In the prospectus submitted, HYGN will allocate around 13.50% of the IPO proceeds to purchase a warehouse located in Bogor. Then around 49.20% will be used for working capital, 18.50% for capital expenditure, and the remainder for capital payments to a number of subsidiaries.

The public offering period for HYGN shares will last until February 7, 2024. Electronic distribution of shares is scheduled for February 12, 2024 and share listing on February 13, 2024.

For the record, the number of shares released by HYGN in the IPO is equivalent to 20.79% of the issued and fully paid capital. Currently, 60% of the company's shares are controlled by Hendrik Yong, 25% of the shares are owned by Hermes Thamrin, 10% of the shares are owned by Rondy Yunanda, and the remainder is owned by Wincent Yunanda. (KR/LM)