WIR Asia Digital Reality Company Releases Shares To Public, Offering Period Starting Today At A Price Of Rp150-Rp175 Per Share

Illustration. (Photo: Doc. Antara)

JAKARTA - The Indonesia Stock Exchange (IDX) will welcome another candidate for a new listed company. It is PT Wir Asia Tbk, a digital reality-based company that is starting the initial offering period today (Monday 14 March) until 17 March 2022.

Citing the company's offering document, WIR will release 2.3 billion shares, equivalent to 20 percent of the issued and fully paid capital. The price range is IDR 150 to IDR 175 per share.

From the number of shares and the price range, WIR has the potential to reap fresh funds ranging from Rp. 350.56 billion to Rp. 408.99 billion in this initial public offering (IPO).

WIR will use 83.54 percent of the proceeds from the IPO for capital expenditures and working capital for subsidiaries. While the rest is for capital expenditures and working capital of the company, to business development and/or expansion through strategic partnerships with companies and/or companies.

In addition to releasing the initial shares, WIR also plans to issue series I warrants which will be distributed free of charge to new shareholders with a ratio of 10 new shares will receive three series I warrants.

The proceeds from the issuance of the warrants will be passed on to the subsidiary companies, namely Are Teknologi Kreasi, Tiga Root of Dreams and Vatar Media Raya, as capital expenditures and working capital.

The company also offered the initial shares to management and employees under the MESOP program for a maximum of 934.84 million shares.

As additional information, after the initial offering period, WIR opened a public offering period on March 29-31 until finally listing its initial shares on the IDX on April 4.

In this action, the company appointed Ciptadana Sekuritas Asia as the underwriter.