RATU sets up IPO of 543.01 million shares, some are RAJA’s divested shares
JAKARTA. PT Raharja Energi Cepu Tbk (RATU), a holding company of PT Rukun Raharja Tbk (RAJA), plan to debut on Indonesia Stock Exchange (IDX) by offering 543.01 million shares.
According to the issued prospectus, 190.05 million shares issued in RATU’s initial public offering (IPO) are new shares taken out of its portfolio. However, the remaining 352.9 million shares originate from RAJA’s divestment.
The entire shares will be offered with a book building price range of IDR 900-1,150 per share. Assuming that the price is set to the highest level, RATU will potentially gain IDR 624.46 billion from this IPO.
After IPO, RAJA will remain as RATU’s controlling shareholder, with stock ownership of 79.99%. Public investors will claim 20% of the shares, while the small 0.004% belong to PT Rukun Prima Sarana.
RATU has assigned PT Henan Putihrai Sekuritas and PT Sucor Sekuritas as its joint lead underwriters. Book building of RATU will take place from December 17 to 23, with public offering follows from January 2 to 6, and the listing on IDX on January 8, 2024. (KR/ZH)