Jakarta, MINA – Indonesian Property company, PT Repower Asia Indonesia Tbk. shot up to 70 percent of the offer price when officially take the floor on the Indonesia Stock Exchange (IDX) on Friday, December 6.
The President Commissioner of PT Repower Asia Indonesia Tbk., Ichsan Thalib, said that the corporate action carried out by Repower is expected to have a positive impact on transparency and the pace of business in the future.
The company with code “REAL” released 2.5 billion new shares or equivalent to 37.69% of the fully paid-up capital after the initial public offering (IPO) with an offering price of Rp.100 shares.
At the initial listing, the 51st issuers’ shares which floated on the stock exchange soared 70% to the price of Rp 170. Seeing the movement of these shares, FISH was automatically hit by Auto Reject Top (ARA).
Because the increase in stock prices exceeds BEI regulations, that the range of stock prices of Rp 50 to Rp 2,000 has a limit of rising and falling shares by 325% in a day.
Through the IPO, the company will get funds of Rp 250 billion and these will be utilized for expansion.
“In the context of business development, expansion, and opening new sources of funding from the capital market,” said PT Repower Asia Indonesia Tbk President Director Aulia Firdaus at a press conference held at the Jakarta Stock Exchange.
The company will utilize all funds for repayment, purchase of development land in several strategic locations. The details are 42.73% for land in Tangerang City, 36.67% in East Bekasi, 36.67% in Pasar Minggu, and 5.92% for land in Pondok Cabe, South Jakarta.
In conducting the IPO, REAL took UOB Kay Hian Sekuritas and MNC Sekuritas as the guarantor for the IPO emissions. In its inaugural offer oversubscribed reached 87.42 times.
The Financial Services Authority inserts REAL shares into Islamic shares.
Repower is a company in the field of property or real estate. A number of projects that have been carried out by the company are Puri Asri Botanical, Green Botanical Garden, and Pejaten Office Park.
Future projects that will be carried out after the IPO process include East Bekasi Apartment, Pasar Minggu Apartment, Pondok Cabe Town House, and Tangerang Apartment.
Repower rolled out with the concept of education and transit-oriented development (ETOD) in a number of locations in Jakarta, Tangerang, and Bekasi. The concept is oriented towards integrating educational facilities for residents while providing easy access to transportation. (L/Sj/P2)
Mi’raj News Agency (MINA)