Itama Ranoraya to Go Public

By Editorial Team 16/09/2019
Summary

Medical equipment distributor PT Itama Ranoraya plans to issue 400 million shares in an initial public offering (IPO) or 25 percent of paid-in capital, aiming to attain Rp 126 billion to Rp15 billion in the corporate action with the price at around Rp 315 to Rp 375 per share.

Itama Ranoraya Director Heru Firdausi said approximately 60 percent of the proceeds would be used to develop marketing centers and networks in several cities across Indonesia from 2019 to 2020, for example, to Surabaya, Medan, and Makassar. The company would also invest in warehouses and fleets for goods delivery service.

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