KUALA LUMPUR (Yosefardi) – PT Arita Prima Indonesia Tbk, subsidiary of Malaysian Unimech Group Berhad, has submitted application for the proposed listing on Indonesia Stock Exchange (IDX).
Arita Prima 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 this morning.
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.