Jun 6, 2012

Trisula International IPO set at Rp250-Rp300

A new debut in the primary stock market dubbed PT Trisula International Tbk revealed that it has already tied up with an anchor buyers, signaling its initial public offering won't deter some problems.

Trisula International aims to sell 300 million shares within the range of Rp250-Rp300 a share, Kontan daily said today.
President Director Lisa Tjahjadi said several investors are ready to absorb the primary shares of Trisula International with commitments to buy half of those shares. "They are local players," he said without mentioning their identities. During the IPO, Trisula, that is underwritten by PT Sinarmas Sekuritas, will grab Rp90 billion cash. Trisula plans to use the proceed to expand its business by opening of 350 sale spots in the next 5 years.

Disclosure: No position at the stock mentioned above.

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