JAKARTA: PT Kobexindo Tractors targets to achieve IDR500 billion from initial public offering (IPO)
The company plans to release 858 million shares or 30% of the paid up capital after the IPO.
"Of 41% of the IPO proceeds will be used for working capital, 34% will be for building branch offices, depots, workshops and other facilities," said President Director of Kobexindo Humas Saputro in a press conference this afternoon, Thursday, May 24, 2012.
Meanwhile, the rest of IPO funds of 21% will be used for debt repayment to Bank DBS and Bank Resona Perdania, while 4%will be allocated for capital placement in the PT Kobexindo Equipment.
The company appointed Mandiri Securities, Lautandhana, and Valbury Asia Securities as the underwriters of the company.
Bookbuilding is done today until June 7, 2012, effective target of Bapepam-LK on June 18, 2012, and a public offering on June 20 to 22, 2012, and listing on the Indonesia Stock Exchange on June 28, 2012.(T03/TW)