Property developer PT Ayana Land International has set its IPO price at Rp103 per share, targeting to raise total proceeds of Rp309 billion. Ayana Land is offering 3 billion shares through initial public offering (IPO), representing 27.7% of total issued and paid-up shares capital. The Company will use 25% IPO proceeds as capital injection in subsidiary, PT Ayana Hotels Indonesia (AHI) and 75% for capital placement in other subsidiary, PT Ayana Property International. Ayana’s projects are such as Greenhost Boutique Hotel, Ayom, and Bale Ningrat.