JAKARTA, NETRALNEWS.COM - Wijaya Karya Bangunan Gedung, also known as WIKA Gedung, plans to conduct initial public offering (IPO). The company plans on offering as many as 4.467 million shares or equivalent to 40 percent of its total paid up capital after the IPO. The offer price is in the range of IDR290 to IDR456 per share.
Laksono W Widodo, Managing Director of Mandiri Sekuritas as WIKA Gedung's underwriter, said the company’s IPO would be conducted at the right momentum.
This is because the subsidiary of state-owned construction company Wijaya Karya (WIKA.JK) is in very strong business growth amid the construction and infrastructure industry which is the main concern of the government.
With a long track record and investment in the national construction industry, WIKA Gedung's decision to go public will be very positive for strengthening the company's competitiveness in the future.
"With the support of fundamentals and strong business prospects, WIKA Gedung shares are expected to be an attractive investment choice for investors of the capital market," he said in a public expose in Jakarta on Thursday (26) / 10/2017).
President Director of WIKA Gedung, Nariman Prasetyo said, the company's decision to offer shares to the public has been a long review and careful consideration.
This measure is considered as the best and strategic choice for the company in order to continue to strengthen its business growth in the long term. The company will allocate 70 percent of the IPO proceeds for Investment and concession, and the remaining 30 percent for working capital.
"This WIKA Gedung IPO is able to accelerate the business acceleration, both construction of high rise building and planned development investment so that it can provide more benefits to stakeholders," he said.
The company has appointed four joint lead underwriters, Mandiri Sekuritas (coordinator), Bahana Sekuritas, CIMB Sekuritas Indonesia, and Buana Capital Sekuritas. The book building period lasts from today and ends on November 7, 2017.
Meanwhile, the effective statement from the Financial Services Authority (OJK) is expected to be published on November 20, 2017. So that the public offering will be implemented on 22-24 November 2017.