Arrival Of 22,800 New Shareholders, IRSX Ready For IPO, Oversubscribed 100 Times

JAKARTA - PT Aviana Sinar Abadi Tbk (IRSX) is ready to take the floor on the Indonesia Stock Exchange (IDX) on Tuesday 7 February tomorrow. Aviana is offering initial shares at a price of IDR 101 per share.

During the public offering period which was held on 1-3 February 2023, AVIANA (IRSX) recorded the arrival of around 22,800 new shareholders and recorded oversubscribed or oversubscribed by up to 100 times.

Shinhan Sekuritas which acted as an underwriter for the issuance of securities in the initial public offering (IPO). IRSX offers 1 billion shares or the equivalent of 20 percent of the company's issued and fully paid capital at a price of IDR 101 per share.

Aviana also simultaneously issued 1.4 billion series 1 warrants accompanying the company's new shares with a ratio of 5 to 7, which means that the holders of five new shares will receive seven warrants.

According to the company's prospectus, around 78.57 percent of the proceeds from the IPO will be used by subsidiaries for capital expenditures and working capital. Around 4.08 percent will be used by the company for capital expenditure. Then, around 17.35 percent will be used by the Company for working capital.

President Director of PT Aviana Sinar Abadi Tbk (IRSX) Panji Pramana said that the high enthusiasm of investors for the IRSX share offering could be the first point for MSMEs to go digital and rise even higher after the pandemic.

"Seeing the enthusiasm from the market for AVIANA, we are very pleased and optimistic that we will continue to be able to carry out technology development to produce innovations and solutions for various business sectors, and become one of the leading technology companies nationally and globally," Panji said in a statement, Monday 6 February.