Going IPO, Asri Karya Lestari Offers Rp 100-Rp 130 Shares

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The contracting company, PT Asri Karya Lestari Tbk. (ASLI) will carry out an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX) by releasing 1,250,000,000 new shares with a nominal value of IDR 50 per share or equivalent to 20% of the issued and fully paid-up capital.

Quoting the prospectus, the price offered to the public is IDR 100-IDR 130 per share, so that later the company will get as much fresh funds as possible is IDR 162,500,000,000.

To facilitate this corporate action, the company appointed PT NH Korindo Sekuritas Indonesia as the guarantor and executor of the securities.

The use of the proceeds from ASLI's IPO, after deducting securities emission costs, will be used for capital deposits in the Company's subsidiaries, namely PT Bumi Prima Konstruksi and PT Manyar Perkasa Mandiri of around 50.79%

Meanwhile, the rest will be used for the Company's working capital, namely material payments, project equipment, employee salaries and benefits and operational costs.

Currently, ASLI shares are owned by Sudjatmiko 86.90%, PT Berjaya Capital Investama 13%, and Subandi 0.10%. After the IPO, Sudjatmiko will shrink to 69.52%, PT Berjaya Capital Investama 10.40%, and Subandi to 0.08%.

ASLI IPO Schedule

Bookbuilding period: December 12–18, 2023
Effective date: December 27, 2023
Masa penawaran umum perdana saham: 29 Desember 2023–03 Januari 2024
Allotment date: January 03, 2024
Distribution date: 04 January 2024
Listing date on Indonesia Etek Exchange: 05 January 2024