Wijaya Karya (Wika) Gedung, subsidiary of state construction firm Wijaya Karya (WIKA), has set its IPO prices at Rp290-456 billion. It will offer 4.46 billion shares through the initial public offering (IPO), representing 40% of its total issued and paid-up capital. Wika Gedung will use 70% IPO proceeds for investment and the rest for working capital. The listing is targeted for November 30, 2017. Wika Gedung booked new contracts of Rp5.89 trillion per October 2017.
