JAKARTA. PT Remala Abadi Tbk (DATA), an internet service provider (ISP) and IT consultancy company, will offer 275 million shares through Initial Public Offering (IPO) in Indonesia Stock Exchange (IDX).

The number of shares offered by DATA is equal to 20% of its issued and paid-up capital post-IPO. Each share has a face value of IDR 50, and will be offered for a price ranging from IDR 188 to IDR 208 per share.

“The total value of all publicly offered shares ranges from IDR 51.7 billion to IDR 57.2 billion,” said the management of DATA in the official disclosure.

The book building of DATA’s shares takes place starting from today (5/4) until April 22. The public offering is projected to follow from April 29 to May 3, 2024, before being listed on the board on May 7, 2024.

As of October 31, 2023, DATA reported total assets worth IDR 135.75 billion and total equity of IDR 94.71 billion. The company scored revenue of IDR 179.1 billion within the first 10 months of 2023, while its net profit clocked up to IDR 29.39 billion.

In the issued prospectus, DATA is said to plan to use some of the IPO proceeds for acquisition. In addition, the company also intends to allocate some of said proceeds to acquire assets and working capital. (KR/ZH)