Planning To Buy Land And Need Working Capital, Property Company From Batam Looking For IPO Funds Of Up To IDR 210 Billion

Photo: Doc. Winner Nusantara Jaya

JAKARTA - The Indonesia Stock Exchange (IDX) will welcome prospective issuers from the property sector. It is PT Winner Nusantara Jaya Tbk that will release its shares to the public through an initial public offering (IPO).

Winner Nusantara is a property company based in Batam with main business activities as self-owned or leased real estate developers, real estate on a fee or contract basis, holding company activities, head office activities, other management consulting activities, and engineering activities. and technical consulting related thereto.

Citing e-ipo.co.id, Winner Nusantara is preparing to sell 1.5 billion shares with a price range of IDR 100-Rp 140 per share. The number of shares offered is equivalent to 28.65 percent of the issued and paid-up capital.

Through this action, the company has the potential to raise funds ranging from IDR 150 billion to IDR 210 billion.

Along with the IPO, the company will also issue a maximum of 1.3 billion series I warrants or 34.8 percent of the total issued and fully paid capital.

The exercise price for Winner Nusantara's warrants is IDR 250, so the exercise value can reach IDR 325 billion.

All funds obtained from the initial public offering after deducting emission costs will be used by the company to purchase land at the latest by the end of the third quarter of 2022 and the remaining funds obtained will be used for the company's working capital and subsidiary.

The initial offering period is scheduled to take place on 28 March-4 April 2022, the initial public offering is scheduled for April 12-14, 2022, and the listing of shares on the IDX will take place on April 19, 2022.

As additional information, acting as the implementing underwriter for Winner Nusantara's IPO securities is PT Artha Sekuritas Indonesia.