JAKARTA. PT Daaz Bara Lestari Tbk (DAAZ), a commodity trading company that has now expanded its reach to mining logistics and services, will issue 300 million shares in its initial public offering (IPO).

The number of shares issued by DAAZ is equal to 15.02% of its total issued and paid-up capital. Each share is offered for a price ranging from IDR 835 to IDR 900.

Assuming that the price is set to the upper limit of IDR 900, DAAZ will potentially raise fresh funds of up to IDR 270 billion from IPO.

The book building of DAAZ’s shares is scheduled to take place from October 11 to 18, 2024. Then, the public offering will follow on November 1-7, 2024, with the listing on Indonesia Stock Exchange on November 11, 2024.

For the record, DAAZ has assigned PT Henan Putihrai Sekuritas as its lead underwriter, while the rest will be announced in the near future. (KR/ZH)