PT Sarimelati Kencana, operator of Pizza Hut in Indonesia, has set its IPO prices at Rp1,100 to Rp1,350 per share, to raise total proceeds of Rp664.8 billion to Rp815.89 billion. It will issue 604.37 million shares through initial public offering (IPO), representing 20% of its total issued and paid-up capital.
The book building starts on Monday (Apr 23) and will last until May 3, 2018. The offering is scheduled for May 17-18, 2018 and listing on the Indonesia Stock Exchange (IDX) is set for May 23, 2018. Sarimelati will use 65% of the IPO proceeds for capital expenditure (capex). While 35% of the IPO proceeds will be used for paying debts.
