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Aneka Gas Industri set IPO prices Rp 1,000 to Rp1,290


Photo by Aneka Gas Industri

JAKARTA (TheInsiderStories) – Indonesia manufactures chemical gases  for industry, PT Aneka Gas Industri has plans to sell shares through an initial public offering (IPO) in Septermber to raises up to Rp989 billion (US$74.7 million).

The company will offer 25 percent of shares it owns in Aneka Gas, equating to 766.66 million shares with offering price range is at Rp 1,000 to 1,290.The IPO is scheduled for Sept. 22 at the latest while the stock listing is set to launch at the end of September.

Aneka Gas president director Rahmat Harsono said 80 percent of the funds will be allocated to pay debt and for expansion and the last 20 percent for working capital. Currently, the company operates 80 gas filling stations and wants to grow to 200 stations by 2020.

By raising fresh funds through the IPO, Rahmat said, the company expected to expand and book Rp 2.4 trillion in sales in 2017, a 33.3 percent increase from the 2016 target of Rp 1.8 trillion.

Aneka Gas Industri has appointed Mandiri Sekuritas, RHB OSK Securities and DBS Vicker Securities as joint lead underwriter for the IPO. The unit of Samator Group, currently has assets of around Rp 5 trillion and total equity of Rp 2 trillion and had never issued bonds in 2008.


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Source: The Insiderstories
Aneka Gas Industri set IPO prices Rp 1,000 to Rp1,290

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