JAKARTA - PT Era Digital Media Tbk (AWAN) targets to achieve an initial public offering (IPO) of IDR 82.5 billion.
AWAN offered as many as 750 million shares or 21.83 percent of the paid-up and issued capital after the IPO.
Quoting Antara, during the initial bidding period or book building from March 28 to March 31, 2023, the company set an initial offering price of IDR 100 to IDR 110 per share.
The company, which is engaged in technology, projects the schedule for the initial public offering of shares from April 11 to 13, 2023, with an allotment date of April 13, 2023, and is scheduled to take the floor on the IDX on April 17, 2023.
Regarding the use of IPO proceeds, 80 percent of the company will distribute capital to its business entity, namely PT Era Awan Digital (EAD).
The capital for EAD is 70 percent to buy assets in the form of 189 servers which will be implemented in 2023 and 2024, as well as 30 percent for working capital, namely employee salary & welfare, office rental, cost of goods sold (HPP), marketing activities, company certification, and employee development to support marketing, product development and EAD operations.
Meanwhile, the purchase of 189 servers will be used for the server expansion of Virtujang Hybrid Infrastructure (VHI) which aims to increase server capacity, as well as the development of several new products that are planned to launch in 2023.
Then, the IPO proceeds are around 20 percent for working capital, namely payment of salaries & employee welfare, office rental, cost of goods sold (HPP), marketing activities and employee development to support the company's operational activities.
For information, until March 17, 2023, the Indonesia Stock Exchange (IDX) noted that 33 companies had entered the IPO pipeline, which came from various sectors with asset ownership ranging from IDR 50 billion to IDR 250 billion.
Until the same period, the IDX noted that there have been 27 companies holding IPOs throughout 2023, with funds raised reaching IDR 12.5 trillion.
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