JAKARTA. PT Soraya Berjaya Indonesia Tbk (SPRE), a bed cover and household equipment manufacturer, will issue 240 million of its shares through initial public offering (IPO).

The number of shares is equal to 30% of its issued and paid-up capital of SPRE post-IPO. Each share has a nominal value of IDR 25 and will be offered with a price ranging from IDR 120 to IDR 130 per share.

Assuming that the offering price is set to the upper limit of IDR 130 per share, SPRE potentially rakes in fresh funds of IDR 31.2 billion from IPO.

In the issued prospectus, SPRE will allocate approximately 83.33% of IPO proceeds to purchase raw materials. Then, another 16.67% will be allocated to acquire new machine and operational vehicles.

The book building of SPRE’s shares is scheduled to take place from June 10 to 12, 2024. Then, the public offering will follow from June 27 to July 1, 2024, before being concluded with the listing on Indonesia Stock Exchange (IDX) on July 3, 2024.

The lead underwriter assigned by SPRE for this IPO is PT MNC Sekuritas, while other underwriters have yet to be determined.

According to IDNFinancials data, SPRE was established in Padang, West Sumatra, in 2001. It started from a small-scale bed cover manufacturer before finally securing limited company status in 2015. As of now, several products manufactured and sold by the company include bed covers, pillow, and blankets, etc. (KR/ZH)