Property developer PT Greenwood Sejahtera Tbk has set the IPO price range of Rp275-Rp325 per share, entitling the company with a proceed of Rp918.5 billion-Rp1.09 trillion.
Greenwood plans to sell 3.34 billion new shares or 35% of its enlarged capital. Greenwood sets the book building period from November 16 to 25.
Greenwood President Director Harry Gunawan said the company will use 50% of the IPO proceed to acquire land bank of 3.2 hectares and develop the second and third stage of The City Center Batavia. About 20% and 30% of the proceed will be used to develop new projects and working capital.
Disclosure: No position at the stock mentioned above.
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