JAKARTA. PT Intra Golflink Resorts Tbk (GOLF), a golf course consultancy and management company of Tommy Soeharto, has decided the initial public offering (IPO) price of IDR 200 per share.

Said offering price arrives at the lower point of the price range initially set by GOLF in book building last week, from IDR 200 to IDR 230 per share. With the fixed price, the company will only potentially rake in fresh funds of IDR 390 billion.

For the record, GOLF’s number of shares issued in the IPO is 1.95 billion, which are equal to 10.01% of total issued and paid-up capital post-IPO.

Public offering period of GOLF takes place from July 2 to 4, 2024. The distribution of shares will follow on July 5, before finally being listed on Indonesia Stock Exchange on July 8, 2024.

As stated in IPO prospectus, GOLF plans to allocate roughly 87.53% of the proceeds as capital investment in its subsidiary called PT New Kuta Golf and Ocean View (NKG). Then, another 5.34% will be channelled to PT Sentul Golf Utama (SGU), leaving the remainder as working capital. (KR/ZH)