PT Marga Abhinaya Abadi (Maba), engages in hotel construction, has set its IPO price at Rp112, to raise total proceeds of Rp53.08 billion. It will offer 474 million shares. Maba will also issue 711 million shares for conversion its mandatory convertible bond (MCB) worth Rp80 billion. The listing at stock exchange is scheduled for June 22, 2017. PT Erdhika Elit Sekuritas and PT Sinarmas Sekuritas act as underwriter for this IPO. The Company will use IPO proceeds for paying debt (38%), business expansion (34%), and working capital (28%).
