Nov 16, 2010

Midi Utama sets IPO at Rp275/share

Minimarket provider PT Midi Utama Indonesia Tbk has finally set the IPO size of 432.35 million new shares or 15% of its enlarge capital at Rp275 per share.
Considering the IPO price, Midi Utama will obtain IDR118,89 billion proceed, the additional IPO prospectus reveled today.
About 90% of the proceed will be used by Midi Utama to underpin business expansion by opening minimarket outlets in West Java, East Java, Bali, Makassar, and other areas.
The remaining will be be utilized to develop distribution center in Serpong and Bekasi.
PT Indo Premier Securities is lead underwriter for the IPO, supported by two underwriters PT Ciptadana Securities and PT Dinamika Usahajaya.

Disclosure: No position at the stock mentioned above.

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