Arsy Buana Travelindo, This Travel Company Pasang Harga IPO Rp140 Per Saham

Indonesia Stock Exchange (Photo: Doc. Antara)

JAKARTA - A company engaged in the travel agency, PT Arsy Buana Travelindo Tbk (HAJJ) has set an Initial Public Offering (IPO) of IDR 140 per share. Where, the IPO will take place from 28 March to 3 April 2023.

Quoting Antara, Jakarta, Tuesday, HAJJ offered as many as 687.10 million shares or 29.99 percent of the paid-up and issued capital after the IPO.

With the price of the offer, the company, which is scheduled to take the floor on the IDX on April 5, 2023, has the opportunity to obtain fresh funds of IDR 96.19 billion.

Simultaneously, the company issued 549.68 million Series I Warrants or 34.28 percent of the total number of issued and paid-up shares, whose implementation will take effect from October 4, 2023 to April 3, 2026, with an exercise price of IDR 175.

The company, which is engaged in tourist travel, plans to use around 60 percent of the IPO proceeds for aircraft ticket reservations and around 40 percent for hotel room slot reservations.

The Company plans to use funds for working capital to be carried out in the context of daily operational activities, as well as to support business activities.

The agreement with the aircraft ticket provider and hotel room slot will be signed after the company gets the proceeds from the IPO, which will be implemented in the second quarter to the third quarter of 2023.

In addition, plans to use funds for working capital will be carried out to meet the needs of the Umrah season for the period 19 July 2023 to 6 July 2024.

Meanwhile, the funds obtained from the implementation of Series I Warrants for the company's working capital in the form of payment for hotel room slot reservations, plane tickets, and land arrangements.

For information, as of March 17, 2023, the IDX noted that 33 companies had entered the IPO pipeline from various sectors with assets ownership of IDR 50 billion to IDR 250 billion.

Companies from the non-primary consumer goods sector were recorded as many as eight companies, the transportation & logistics and raw goods sectors as many as five companies, and the technology sector as many as four companies.

In addition, the financial sector and property sector as many as three companies, the primary consumer goods sector as many as two companies, as well as one industrial, health and infrastructure sector company.

Until the same period, the IDX recorded 27 companies conducting IPOs on the IDX during 2023, with funds raised reaching IDR 12.5 trillion.