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Atlantis Subsea Indonesia to list on IDX this month
Marine survey provider PT Atlantis Subsea Indonesia has announced its intention to list its shares on the Indonesia Stock Exchange (IDX) this month in a bid to raise up to Rp 144 billion.
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Vice President Ma’ruf Amin (second right) is ready to hit the gong, while Finance Minister Sri Mulyani (left), Bank Indonesia Governor Perry Warjiyo (second left), Financial Services Authority chief commissioner Mahendra Siregar (center) and Indonesia Stock Exchange (IDX) president director Iman Rachman (right) look on, to start the first trading day in 2024 at the IDX in Jakarta on Jan. 2, 2024. (Antara/Asprilla Dwi Adha)
M
arine survey provider PT Atlantis Subsea Indonesia has announced its intention to list its shares on the Indonesia Stock Exchange (IDX) this month in a bid to raise up to Rp 144 billion (US$9.15 million).
According to a preliminary prospectus published by the bourse on Wednesday, the Jakarta-based firm focused on clients in the oil and gas sector is offering 1.2 billion new shares, representing 19.36 percent of the fully deposited and paid-up capital following the initial public offering (IPO).
Offered from Tuesday to Friday at a price range of Rp 100 to Rp 120 per share, the company could net up to Rp 144 billion. The listing is to take effect on March 28.
The proceeds obtained from the IPO, after deducting the issuance costs, are to be used for the purchase of equipment, including from PT Geosat Survei Indonesia, as well as for installation, surveying, transportation, rent, salaries and other operational activities, according to the prospectus.
The company simultaneously issued 1.74 billion warrants to be granted free of charge as an incentive to new investors, with each holder of 20 new shares entitled to obtain 29 of the warrants, which can be used 1 to 1 to obtain ordinary shares at an exercise price of Rp 300 for a potential total of Rp 522 billion.
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The company was not immediately available for comment when contacted by The Jakarta Post.
