Furniture provider from Italy, PT Imago Mulia Persada Tbk, will conduct an initial public offering (IPO) of up to 300 million shares, with an exercise price of Rp100.

Referring to the disclosure of information from the Indonesian Central Securities Depository (KSEI), on Tuesday (30/3), along with the issuance of new shares, the company also offered 350 million series I warrants, representing 35% of the total issued and fully paid shares.

Each holder of 6 new shares of the company is entitled to 7 warrants, of which one warrants entitles the holder to buy one new share issued in the portfolio.

Imago has obtained approval from the Financial Services Authority (OJK), which will be effective on March 29, 2021.

The public offering period will take place on March 30-31 2021. The allotment is April 5, 2021, refund of the order and distribution date of shares and warrants electronically will be carried out respectively April 6, 2021, listing on the IDX April 7, 2021.

The company appointed PT Danatama Makmur Sekuritas, Henan Putihrai Sekuritas and Reliance Sekuritas Indonesia as the underwriters.