PT Bekasi Fajar Industrial Estate, industrial estate developer, plans to dispose 20% stake via initial public offering (IPO) with a total proceed of Rp300 billion.
Director Eddy Sugito at Indonesia Stock Exchange said Bekasi Fajar held a mini expose in front of directors of IDX few weeks ago.
"They said the IPO is about 20% and will be scheduled in April or May this year," he said as quoted by Bisnis Indonesia today.
According to him, Bekasi Fajar will use the proceed to strengthen working capital and underpin expansion, such as land takeover. The company has mandated PT Ciptadana Securities as the lead underwriter.
Ciptadana's President Director Ferry Tanja confirmed that Bekasi Fajar plans to list stocks into the capital market.
Disclosure: No position at the stock mentioned above.
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