JAKARTA - PT Kentanix Supra International Tbk (KSIX), a real estate and property issuer, is ready to list its shares in Indonesia Stock Exchange (IDX) by offering 320.67 million shares for IDR 452 each.

The IPO price falls right at the middle of the estimated price set during the book building period, ranging from IDR 312 from IDR 468 per share. Thus, at the end of its IPO, KSIX is projected to rake in up to IDR 144.95 billion of fresh funds.

According to e-IPO website, KSIX has now managed 7 projects in Cileungsi, Bogor, and Serang. These projects include Grand Nusa Indah Cileungsi, Adhigana @ Grand Nusa Indah, Permata Nusa Indah Situsari, Vila Bogor Indah 6, Gaura @ Villa Bogor Indah, Taman Krakatau, and Griya Permata Asri.

Additionally, the company reportedly still has 2.3 million square meters of undeveloped land (landbank).

As outlined in the IPO prospectus, KSIX plans to allocate 61.55% of the IPO proceeds to infrastructure development for two existing projects: Grand Nusa Indah and Adhigana @ Grand Nusa Indah in Cibubur, Cileungsi, Bogor.

Another 24.48% will be used to increase capital for PT Semangat Panca Bersaudara (SPB), which manages the Vila Bogor Indah 6 project in Kedunghalang, Cipagiri, Bogor.

"The remaining funds will be used for the company’s operational costs, including but not limited to marketing expenses and project costs," the management explained.

It is worth noting that the public offering of KSIX shares is currently ongoing until January 6, with the listing scheduled for January 8, 2025.

As a result, on January 8, 2025, the Indonesia Stock Exchange will welcome two new issuers, KSIX and PT Raharja Energi Cepu Tbk (RATU). (ZH)