JAKARTA (Yosefardi) – PT Arita Prima Indonesia Tbk, subsidiary of Malaysian Unimech Group Berhad, has set its IPO price at Rp200-230 per share, to raise proceeds of Rp55-63 billion, Investor Daily reported.
The company plans to plans to offer 275 million or about 25.58% of the enlarged issued and paid-up capital in the initial public offering (IPO).
“It is anticipated that approximately 75% of the proceeds raised from the IPO will be used for additional working capital, while the balance will be used for short-term bank loan repayment,” Unimech informed Bursa Malaysia.
The IPO is scheduled for October 21-23, 2013.
Arita Prima is engaged in the supply of valve, fitting, gasket, bolt, and nuts plus instrumentation control such as switch, pressure switch, transmitter, pneumatic, gauge, and meter.