Raam Punjabi's Multivision Plus Will IPO, Targeting Fresh Funds Of IDR 232.2 Billion

Multivision Plus wants an IPO (Photo: Maria Trisnawati/VOI)

PT Tripar Multivision Plus Tbk will list its initial shares (IPO) by releasing a maximum of 929,200,000 shares or 15 percent of its total shares.

The issuer with the code RAAM is targeting to get fresh funds of Rp232.3 billion at a nominal price of Rp60 per share and a public offering price of Rp225 - 250 per share.

President Director of PT Tripar Multivision Tbk Whora Anita Totalnath explained, later the funds from the IPO results will be used by the Company for working capital and additional capital for subsidiaries in the cinema sector.

"81.60 percent will be used as working capital, and the remaining 18.40 percent will be used to inject capital into subsidiaries in the cinema sector," he said in a public expose in Jakarta, Wednesday, April 12.

The initial offering period will take place from 11 to 18 April 2023 and the estimated effective date will be on 28 April 2023.

Meanwhile, the estimated initial public offering period will be carried out from May 3 to May 5, 2023 and the estimated date of listing on the Indonesia Stock Exchange will be held on May 9, 2023.

Present on the same occasion, Director of PT Tripar Multivision Tbk Vikas Chand Sharma emphasized that the business strategy that has been made by the Multivision Plus management can certainly boost the performance of financial performance in the future. Moreover, when hit by the Covid-19 storm, the financial portfolio experienced a significant decline.

"We have a projection for the next 4 years that operating profit can increase by 22.96 percent while net profit margins will increase by 33 percent until 2027. Of course, this projection is accompanied by an increase in the number of moviegoers in Indonesia, and cinema screen growth," said Vikas.