JAKARTA (Yosefardi) – PT Graha Andrasentra Propertindo (GAP) and PT Buyung Duta Sembada plans to launch the initial public offering (IPO) in the fourth quarter of this year. Both companies have conducted mini exposes at the Indonesia Stock Exchange (IDX).
GAP, owner of The Jungle Waterpark, plans to offer 2.2 billion shares or 10% of its total issued and paid-up capital, at price of Rp100-150 billion, to raise maximum proceeds of Rp330 billion.
GAP, subsidiary of PT Bakrieland Development Tbk (ELTY), plans to build waterpark in some locations such as Sidoarjo, Bandung, Palembang, and Makassar.
While Buyung Duta Sembada engaging in rice business plans to offer 30% shares to public, targeting to raise Rp500 billion.