The state-controlled construction company PT Waskita Karya is scouting a Rp1 trillion proceed from a sale of 35% stake via initial public offering (IPO).
"The proceed is expected to help strengthening our equity and develop business," said President Director M. Choliq, former president director of PT Adhi Karya Tbk as well, yesterday.
Waskita Karya's current equity is about Rp600 billion, hence the company expects Rp1 trillion from the IPO next year.
Disclosure: No position at the stock mentioned above.
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