PT Erajaya Swasembada, a distributor of cellular handsets, is scouting Rp3 trillion proceed from initial public offering set in November this year.
Director Eddy Sugito at Indonesia Stock Exchange said the owner of Erafone outlet has submitted the IPO documents to the stock market regulators.
"They aim to dispose 40% stake to the public investors during the IPO," said Eddy.
According to him, Erajaya has mandated PT Buana Capital, PT Credit Suisse Securities Indonesia, and PT JP Morgan Securities as the IPO underwriters.
Erafone, established in 2002, manages 200 outlets that provides several brands such as Nokia, Samsung, Sony Ericsson, and BlackBerry.
Disclosure: No position at the stock mentioned above.
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