PT HD Finance, financing service company for two-wheeled vehicle, is ready to sell 29.87% shares through initial public offering (IPO) with an offering price between Rp200 and Rp250 per share as the company intends to raise Rp115 billion. President Director of PT HD Finance Hariono said the IPO proceeds will be used to fund the company’s expansion plan including the financing of two-wheeled vehicles and information technology infrastructures.
“Of the total proceeds, 80% will be used in this year, while the remaining will be spent in 2012,” he said, yesterday.
HD Finance appointed PT Makinta Securities as the underwriter and it plans to have roadshow to several cities. HD Finance in 2011 eyes new booking amounting Rp1 trillion, up 33,33% from Rp750 billion, the booked prediction in 2010.
Disclosure: No position at the stock mentioned above.
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