Jun 22, 2011

Alkindo sets IPO at Rp225-Rp300

Paper tube, paper core, and honey comb producer PT Alkindo Naratama Tbk has offered its initial shares at Rp225-Rp300 per share during IPO.
Alkindo, which is majority owned and founded by Herwanto Sutanto and Lili Sutanto, is selling 150 million new shares or 27.27% of its enlarged capital, enabling the company to raise Rp33 billion-Rp45 billion proceed.
The company will use the proceed to settle debt to two banks, land investment, and working capital. 

Disclosure: No position at the stock mentioned above.

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