Jakarta -PT Dafam Property Indonesia Tbk., Property developer, building and leasing and hotel management will hold initial public offering (IPO) at Rp110-Rp120 per share.
Dafam Property plans to release up to 400 million shares or 25% of the total issued and fully paid capital after this IPO. With an indication of Rp110-Rp120 per share, Dafam Property has the potential to raise Rp44 billion to Rp48 billion.
Simultaneously, Dafam Property also issued 300 million warrants series I with the implementation price of Rp138 to Rp150 which is given free of charge to new share buyers of the company with a ratio of each buy 4 shares is entitled to 3 warrants.
Most of the intended use of IPO funds, which is 47.83%, is for the purchase of land and buildings covering 21,232 m2 in Batang Regency, Central Java. Then, 17.39% is used for the purchase of land and office building area of 253 m2 in Semarang City, Central Java.
Furthermore, about 7.39% will be used by the company to purchase 645 m2 of land in Semarang City, Central Java. A total of 6.74% will be used to increase equity participation in the subsidiary, PT Dafam Mambo International (DMI).
Funds submitted to DMI will then be used to increase capital participation in PT Hotel Cilacap Indah which will be used for the purchase of land 815 m2 in Cilacap Regency, Central Java.
“The remaining 20.65 percent will be used for the company’s working capital. While the funds obtained from the implementation of series I warrants will all be used for business development, “said the management of Dafam Property in a press release quoted on Saturday (31/3/2018).
The Company is part of the Dafam Group which has a number of companies in various business fields, such as swallow’s nest farm, pharmacy, cigarette production partners, lifestyle resto & café, and other investments.
Supported by a decades-old management of hotel and property development, the company has innovation and creativity in developing its projects in Indonesia.
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