JAKARTA. PT Bangun Kosambi Sukses Tbk (CBDK), a subsidiary of PT Pantai Indah Kapuk Dua Tbk (PANI), plans an initial public offering (IPO).

CBDK is said to offer 566.89 million shares in IPO, which are equal to 10% of issued and paid-up capital. The company also set the price range for the bookbuilding of the shares to IDR 3,000 to 4,060 each.

Assuming that the price is fixed at the highest level, CBDK might potentially gain fresh funds of IDR 2.3 trillion from IPO.

The bookbuilding will take place from December 13 to 20, 2024, with assigned underwriter PT Trimegah Sekuritas Tbk (TRIM).

For the record, CBDK is currently managing real estate development in Tangerang. Until the first half of 2024, real estate sector contributed 99% of its total net revenue.

As of June 30, 2024, PANI still claimed 51% of the shares directly, while PT Agung Sedayu and PT Tunas Mekar Jaya had 24.50% each.

Total assets of this IPO candidate reached IDR 18.16 trillion, with equity clocking up to IDR 8.14 trillion. (KR/ZH)