PT Zyrexindo Mandiri Buana Tbk plans to conduct an initial public offering of up to 333,333,300 shares representing 25% of the issued and fully paid-up capital.

Referring to the brief prospectus quoted on Friday (19/2), the company also plans to issue around 166,666,650 series I warrants which accompany new shares or about 16.67% of the issued and fully paid-up capital.

The company entrusts the underwriters to BNI Sekuritas and Mirae Asset Sekuritas Indonesia.

Meanwhile, the indicative schedule of implementation is the initial offering period 19-25 February 2021. The effective date is expected to be obtained on March 10, 2021, the public offering period 16-18 March 2021, allotment of March 22, 2021, refunds of orders for March 24, 2021, distribution of shares and warrants by electronic March 24, 2021, the listing of shares and series I warrants on the IDX March 25, 2021.

The company will use the proceeds from the IPO to pay off the purchase of assets (offices, buildings, land) of around 42% and 58% for working capital to market raw materials for laptops.

As of September 2020, the company recorded a comprehensive profit of Rp30.227 billion with net sales of around Rp179.622 billion. The total assets recorded reached Rp108,752 billion.