The initial public offering (IPO) of PT Elang Mahkota Teknologi got positive response from investors that it made double oversubscription worth IDR730 billion. The company is scheduled to list the IPO today at the same time with warrant listing for the IDR1.4 trillion debt restructuring last year.
The company sold 10 percent stocks or 512.73 million units to public consisting of 256.365 million new shares and 256.365 founding stocks. PT Mandiri Sekuritas served as the single underwriter.
With the offering price at the level of IDR720 per unit, the total proceeds generated from the IPO could be IDR369.17 billion. With the two folds oversubscription, the demand value is worth at IDR738.33 billion.
Some 42 percent of the IPO funds will be allotted as working capital, 33 percent for capital expenditure this year, 18 percent for business development, and 7 percent for debt payment of the subsidiary firm, PT Omni Intivision.
On the listing, Ashmore converted warrant into equity listed together with IPO. The fund management institution here has listed 1.72 billion units at the London bourse or three folds of the sold stocks to public or 512.73 million units.
Ashmore will have 33.27 percent through five entities, namely Ashmore Ashmore Asian Recovery Fund with 15.49 percent, Ashmore Global Special Situations Fund 3 (10.64 percent), Ashmore Global Special Situations Fund 2 (3.23 percent), Ashmore Global Special Situations Fund 4 (2.31 percent), and EMDCD (2.05 percent).
With the offering price at the level of IDR720 per unit, the total proceeds generated from the IPO could be IDR369.17 billion. With the two folds oversubscription, the demand value is worth at IDR738.33 billion.
Some 42 percent of the IPO funds will be allotted as working capital, 33 percent for capital expenditure this year, 18 percent for business development, and 7 percent for debt payment of the subsidiary firm, PT Omni Intivision.
On the listing, Ashmore converted warrant into equity listed together with IPO. The fund management institution here has listed 1.72 billion units at the London bourse or three folds of the sold stocks to public or 512.73 million units.
Ashmore will have 33.27 percent through five entities, namely Ashmore Ashmore Asian Recovery Fund with 15.49 percent, Ashmore Global Special Situations Fund 3 (10.64 percent), Ashmore Global Special Situations Fund 2 (3.23 percent), Ashmore Global Special Situations Fund 4 (2.31 percent), and EMDCD (2.05 percent).
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