JAKARTA. PT UBC Medical Indonesia Tbk (LABS), a medical device distributor, will offer 700 million shares through initial public offering (IPO).

The number of shares issued by LABS is equal to 17.72% of its total issued and paid-up capital post-IPO. Each share has a face value of IDR 20 and will be offered for a price ranging from IDR 100 to IDR 105 per share.

Assuming that the offering price set to the upper limit of IDR 105 per share, LABS will potentially raise fresh funds of up to IDR 73.5 billion from IPO.

In the prospectus, LABS is said to utilise the entire IPO proceeds for its working capital.

The book building of LABS’s shares is set to take place until June 26, 2024, followed by the main public offering on July 2-4, 2024, and the listing on Indonesia Stock Exchange (IDX) on July 8, 2024.

LABS has also assigned PT Lotus Andalan Sekuritas as the lead underwriter in its IPO. (KR/ZH)