PT Damai Sejahtera Abadi Tbk, an electronic and household furniture retailer, will start its trading debut on the Indonesia Stock Exchange (IDX) on Monday (1/2) by selling 457.5 million new shares through an initial public offering.

The public company with code stock UFOE already set the offering price at Rp101 per share. Through this IPO, UFOE will receive fresh funds of Rp46.21 billion.

After deducting the emission cost from this IPO, around 91.7 percent of the proceeds will be used for investment in additional land and buildings for shops and warehouses.

Approximately 8.3 percent will be used for working capital, including purchasing supplies and payment of trade payables to meet operational needs.

The offering period for the IPO starts from Tuesday (26/1) to Wednesday (27/1).

The company's business activities known as the UFO Elektronika brand are currently engaged in retail electronic trading from LED TVs, LCDs, plasma, computers, laptops, office equipment, mobile phones, various gadgets, speakers, home theater, digital cameras. , kitchen electronics, to household furniture