JAKARTA. PT Superior Prima Sukses Tbk (BLES), a Hebel and mortar manufacturer based in Surabaya, plans to issue 1.31 billion shares in Initial Public Offering (IPO).

The number of shares issued by BLES is equal to 15.05% 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 175 to IDR 185.

Assuming that the IPO price is set to the upper limit, BLES potentially secures fresh funds of up to IDR 244.01 billion from IPO.

In the prospectus, BLES is said to allocate around IDR 100 billion of IPO proceeds to its capital expenditure budget (capex). The remainder will be used for working capital needs.

BLES has assigned PT Lotus Andalan Sekuritas as the lead underwriter. The book building will take place from June 11 to 20, 2024, followed by the public offering from June 28 to July 2, 2024. Then, the listing will be set to July 4, 2024.

As of now, 48.76% of BLES are under the control of PT Global Base Universal. PT Tata Utama Gemilang has another 35.565, followed by PT Tancorp Investama Mulia of 11.35%, Billy Law of 2.66%, and Dermawan Suparsono of 1.77%.

It is worth mentioning that Tancorp Investama Mulia is an investment group affiliated with Tancorp Group owned by Surabaya-based business mogul, Hermanto Tanoko. Tancorp Investama Mulia’s portfolio is known to be quite diverse, starting from garment to chemical sector. (KR/ZH)