JAKARTA (Yosefardi) – Property developer PT Sitara Propertindo plans to offer shares through the initial public offering (IPO) by mid of this year, to raise proceeds of Rp500 billion, Bisnis Indonesia reported.
The company had appointed PT Sinarmas Sekuritas as underwriter for the IPO.
Sitara has built some middle-up class of residential area such as Premiere Pavillion in Cengkareng and Les Belles Maisons in Serpong (Tangerang).
Currently it is working on residential projects such as Premiere Village in Cipondoh (Tangerang) and mixed use City Point in Pondok Cabe (South Jakarta).