PT Surya Esa Perkasa Tbk, an LPG refinery operator, has set the IPO price at Rp610 a share. During the IPO, Surya Perkasa plans to sell 250 million shares.
The company provided the IPO range within Rp450-Rp650 a share. Referring to the final price, Surya Esa will bag Rp152.5 billion proceed. The company has mandated PT Equator Securities as the IPO underwriter.
Managing Director Equator David Agus said the price is competitive enough, while the company has a positive prospect.
Surya Perkasa, which is controlled by Garibaldi Thohir, Adaro Energy's president director, Vinod Laroya, and Ida Bagus Made Putra Jandhana, will use 75% of the proceed to expand business.
Disclosure: No position at the stock mentioned above.
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