Release Of 150 Million Shares To The Public, Heavy Transportation Services Supply Company Of PT Utama Radar Cahaya Incar Funds Of Up To Rp. 22.5 Billion

JAKARTA - PT Utama Radar Cahaya Tbk is also queuing up a list of listed company candidates on the Indonesia Stock Exchange. This heavy transportation service provider company released 150 million shares or 20 percent of the issued and fully paid capital.

In the Main Radar bidding document contained in e-ipo.co.id, Friday, July 8, the company offered its share price from Rp. 110 to Rp. 150. That way, the funds to be obtained can reach Rp. 16.5 billion to Rp. 22.5 billion.

From the proceeds from this IPO, Main Radar allocated 75.17 percent for the purchase of used truck vehicles consisting of 3 units of tronton loss like Isuzu, 12 units of tronton loss, 2 units of tronton dump Hino tronton, 3 units of loss trailers, 2 Hino tank trailers and 5 units of Isuzu tank tronton.

In addition, 9.22 percent is for working capital. Then 7.59 percent is for the purchase of spare parts and 2.99 percent is for the payment of parking space rental installments for two years.

The company also allocates 2.2 percent for the cost of changing the names of 27 truck fleets, 1.7 percent for the construction of parking space support facilities, 0.37 percent for the purchase of 27 trucks of GPS equipment, and 0.76 percent for TLO insurance payments.

In this initial public offering, the company appointed PT Elit Sukses Sekuritas as the underwriter for the issuance of securities.

The initial offering period with the code RCC runs from today until July 12 to get an effective permit on July 25. The public offering period continued July 27-29 and a listing on the Stock Exchange on August 2.