PT Armidian Karyautama Tbk, engages in construction, services, and trading, has set its IPO price at Rp300, to raise Rp491.25 billion proceeds. The Company will offer 1.64 billion shares, representing 20% of its total issued and paid-up capital. The offering is scheduled for June 16, 2017 and listing at stock exchange is set for June 21, 2017. PT Yuanta Sekuritas Indonesia acts as underwriter for this IPO. The Company is now controlled by PT Mandiri Mega Jaya. Armidian will use Rp250.5 billion of IPO fund for paying debt to Mandiri Mega Jaya.