Jakarta - PT Aman Agrindo Tbk (GULA) has set an initial public offering (IPO) price of Rp250 per share.

The company's prospectus released on Thursday (28/7), GULA will receive fresh IPO funds of Rp 53.518 billion from 214,072 million shares or 20% of the shares offered in this corporate action.

Aman Agrindo plans to use 23 percent of the proceeds from the IPO for capital expenditures such as the construction of a brown sugar factory and other facilities, around 57% for capital expenditures such as the purchase and installation of brown sugar production machines, and the rest for working capital.

The Company entrusts UOB Kay Han Sekuritas as the underwriter for the issuance.

Meanwhile, the effective date of the OJK is 26 July 2022, the public offering period is 28 July-1 August 2022, and the listing on the IDX is 3 August 2022.

Currently, GULA's shareholders are PT Aman Resources Indonesia with 70.804%, Andreas Utomo 28.904% a