JAKARTA. PT Gunanusa Eramandiri Tbk (GUNA), a manufacturer of soy-based and nut-based ingredients, has set the price for the initial public offering (IPO) to IDR 150 per share.

Said price arrives at the upper range of the estimated price set by GUNA in its book building, ranging from IDR 100 to IDR 150 per share. With the offering price set to IDR 150 per share, the company will potentially raise fresh funds of up to IDR 75 billion from IPO.

For the record, the number of shares offered by GUNA in its IPO is 500 million shares. They are equal to 20% of its issued and paid-up capital post-IPO.

As mentioned in the IPO prospectus, GUNA plans to use the proceeds of IPO to purchase almond and peanut for raw materials. Should the required fund is unmet, the company will add the funding from its internal cash and financing from other financial institutions.

GUNA has assigned PT Panin Sekuritas Tbk (PANS) as its lead underwriters for this IPO. The public offering will take place until July 5, 2024, and the electronic distribution follows on July 8. The listing will then take place on July 9, 2024. (KR/ZH)