JAKARTA. PT Adiwarna Anugerah Abadi Tbk (NAIK), a trading and fire protection system service company, will issue 750 million of its shares in an initial public offering (IPO) in Indonesia Stock Exchange.

The number of shares to be offered by NAIK is equal to 23.08% of its issued and paid-up capital. Each share has value of IDR 20, and will be offered for a price ranging from IDR 100 to IDR 107 per share.

Assuming that the company sets the price to the upper limit, at IDR 107 per share, NAIK will potentially raise up to IDR 80.25 billion from its IPO.

The book building of NAIK’s shares will last until October 24, 2024, followed by the public offering on November 4-6, 2024, with the listing scheduled on November 8, 2024.

For the record, for its upcoming IPO, NAIK has assigned PT MNC Sekuritas as its lead underwriter. (KR/ZH)