Jakarta - PT Perma Plasindo Tbk plans to conduct an initial public offering (IPO) of 435 million shares or 20% of the issued capital.

The company's brief prospectus published on Thursday (11/18) stated that the company set the IPO price at Rp138 per share, which means Perma Plasindo will raise Rp60.030 billion in funds.

The company will offer 217.5 million series I warrants or 12.50% of the paid-in capital along with the IPO plan. The exercise price for series I warrant is Rp168 per warrant so that the funds obtained are Rp36.540 billion.

The company plan to use funds obtained from the IPO to pay off the principal of third-party debts of Rp38 billion, loans to business entities of Rp4.5 billion, the purchase of two plots of land in Klaten of around Rp2,850 billion, loans to Bino Digital Solutions Pte Ltd of Rp2,550 billion, and the rest will be used by PT Bino Mitra Sejati.

Meanwhile, the funds obtained from the issuance of Series I w