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View all search resultsRp 150-Rp 250 share float for Megapolitan
Megapolitan Development will price shares for its upcoming initial public offering (IPO) somewhere between Rp 150 (1
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M
egapolitan Development will price shares for its upcoming initial public offering (IPO) somewhere between Rp 150 (1.6 US cents) and Rp 250, the company said in a statement.
The real estate firm is set to offer 850 million shares representing 25 percent of its enlarged capital from Jan. 3 to 5, with the book building process running from Friday until Dec. 21. Shares are expected to be listed on the Indonesian Stock Exchange (IDX) on Jan. 12.
The company said it wanted to raise Rp 212.5 billion in the IPO.
“Sixty percent of the proceeds from the initial public offering will used to develop company projects already the pipeline. The remaining 40 percent will be used for housing, commercial and office development and other capital expenditures,” president director Melani Lowas said in the statement, which was sent to reporters on Friday.
Henan Putihrai was appointed as the IPO’s sole underwriter.
Established in 1979, Megapolitan is the pioneer of Cinere estate in South Jakarta. Its projects include the Bellagio Residence apartment in Mega Kuningan, South Jakarta.
