PT Tower Bersama Tbk ensured its initial public offering (IPO) would be conducted in September.
PT Saratoga Investama Sedaya, owner of 29% Tower Bersama's shares mandated UBS Securities and PT Indo Premier Securities as IPO underwriters.
The company plans to snap up proceed from the IPO in amount of US$100 million and had submitted the intial contract document of shares record in amount of 15-20% of its shares to Indonesia Stock Exchange.
The company also set eyes on US$200 million—US$300 million funds for the restructuring of its debts.
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