JAKARTA. PT Daaz Bara Lestari Tbk (DAAZ), a wholesale trading company specialised in metal ores and a holding company, has set the initial public offering (IPO) price to IDR 900 per share.

The offering price was at the upper limit set by DAAZ during book building, from IDR 835 to IDR 900 per share. With this price, then, DAAZ will be able to raise fresh funds of up to IDR 270 billion from IPO.

For the record, the number of shares issued by DAAZ in this IPO is 300 million shares, equal to 15.02% of total issued and paid-up capital post-IPO.

Then, approximately 33.34% of IPO proceeds will be utilised by DAAZ to obtain nickel ores, while the remaining portion will be allocated as loan for subsidiaries.

The public offering of DAAZ will take place from November 1 to 7, 2024, with the electronic distribution on November 8 and the listing on Indonesia Stock Exchange (IDX) on November 11, 2024. (KR/ZH)