JAKARTA. PT Atlantis Subsea Indonesia Tbk (ATLA), a company engaged in the survey industry for energy sector, will begin its initial public offering (IPO) in Indonesia Stock Exchange (IDX).

The number of shares offered by ATLA in this upcoming IPO is 1.2 billion shares or 19.36% of total issued and paid-up capital post-IPO. Each share has a face value of IDR 8 per share, with offering price set between IDR 100 and IDR 120 per share.

Assuming that the offering price is set to the highest, IDR 120 per share, ATLA will potentially rake in fresh funds of IDR 144 billion from IPO.

The book building of ATLA’s shares offering took place from March 19 to 22, 2024, while the public offering will follow on April 2-4, 2024. The distribution is scheduled on April 5, 2024, and the listing on IDX is set on April 16, 2024.

ATLA has assigned PT Artha Sekuritas Indonesia in IPO as the lead underwriter, while the underwriters are yet to be announced.

Based on the issued prospectus, ATLA reported total assets of IDR 52.88 billion at the end of September 2023. However, its cash and bank was deemed quite weak, only recorded at IDR 4.94 billion, while the total equity clocked up to IDR 48.69 billion. (KR/ZH)