KONTAN.CO.ID – JAKARTA. PT Satu Visi Putra Tbk has started its initial public offering (IPO) period today, Wednesday (21/2). The IPO period of the company, which will later use the stock code VISI, runs until Friday (23/2).

Quoting the e-IPO page, on Wednesday (21/2), VISI has set the IPO price at IDR 120 per share. This is the upper limit of the initial offering price set at IDR 110 to IDR 120 per share. 

In this corporate action, VISI will release as many as 615 million new shares or as much as 20.00% of the capital placed and fully paid after the IPO. Thus, VISI has the potential to raise fresh funds as much as IDR 73.80 billion in this IPO.

The Surabaya-based company also holds an employee stock allocation (ESA) program with a maximum amount of 1% of the shares offered in the IPO or as many as 6.15 million shares.

Read Also: Raise IDR 73.80 Billion, Peek at the Use of IPO Funds of Satu Visi Putra (VISI)

VISI will use the IPO proceeds for two main purposes. First, about 3.49% will be used for the purchase of a transport fleet consisting of 1 unit of Hino / Ranger FL 280 JW EURO 4 and 3 units of Hino / Dutro 136 HDX 6.8 EURO 4 to be carried out with third parties. This purchase is planned to be made in the second quarter of 2024

Second, the remaining IPO funds will be used for working capital, namely, for the purchase of trade goods in the form of banners, considering the increasing need for banners and the largest contribution from VISI sales.

Acting as the underwriter of the securities issuance is PT Surya Fajar Sekuritas. VISI shares will be listed on the IDX on February 27, 2024.

Editor: Syamsul Azhar