JAKARTA (Yosefardi) – Boiler manufacturer PT Grand Kartech plans to offer shares through the initial public offering (IPO) in the fourth quarter (Q4) of 2013.
The company is said to offer 550 million shares, representing 10% of its total issued and paid-up shares capital.
PT Andalan Artha Advisindo (AAA) Sekuritas and PT Investindo Nusantara Sekuritas will act as underwriters for the IPO.
Grand Kartech supplies its boiler products for domestic market and overseas such as Malaysia, Vietnam, Cambodia, Philipine, Ghana, Colombia, Laos and Mongolia.
The company operates its production facilities in Karawang (West Java) and Balikpapan (East Kalimatan).