PT Cardig Aero Service Tbk is seeking a Rp184.69 billion proceed from initial public offering (IPO) or within the price of Rp350-Rp590 per share. The shares listing at Indonesia Stock Exchange is scheduled on November 29 2011.
As quoted by Kontan daily today, the price range is representing a 6-11 folds of its price to earning ratio of the company's sector which is 13.1 folds.
Cardig Services, a parent company of publicly listed PT Jasa Angkasa Semesta Tbk, has launched a 313.03 million shares or 15% of its total equity.The shares are consisting of 166.95 million shares of the company portfolio and 166.95 million shares owned by PT Cardig International, that currently holds 51% stake in Cardig Aero.
Disclosure: No position at the stock mentioned above.
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