Set KRYA's Share Price To IDR 125, Surabaya-based Construction Company PT Bangun Karya Perkasa Jaya Will Raise IDR 40.62 Billion Funds

JAKARTA - After obtaining an effective permit for an initial public offering (IPO), PT Bangun Karya Perkasa Jaya Tbk will hold a public offering period. The plan will take place from tomorrow (Tuesday, July 19) to July 21.

This process is also in line with the determination of the company's share price with the code KRYA. Citing documents from the Indonesian Central Securities Depository (KSEI), Monday, July 18, KRYA shares were set at IDR 25.

The price is in the middle of the range offered by the company during the initial offering period of IDR 20-IDR 30.

That way, this construction company will reap fresh funds of IDR 40.62 billion. This acquisition comes from the number of shares issued as many as 325 million or 20 percent of the issued and fully paid capital of the company.

In addition, the company also set an exercise price of 162.5 million warrants at IDR 56. From here, the results of the exercise of the warrants reached Rp25.35 billion.

Furthermore, Bangun Karya will allocate KRYA shares on July 21, until listing on the Indonesia Stock Exchange (IDX) on July 25.

As additional information, the company from Surabaya appointed Indo Capital Sekuritas as the underwriter and underwriter for the securities issuance.