PT Madusari Murni Indah Tbk, engaged in basic chemical industry, producing ethanol, has set its IPO price at Rp580 per share, to raise total proceeds of Rp203.58 billion. It will offer 351 million shares, downsized from initial plan of 495.94 million, through initial public offering (IPO). The IPO represents 15.03% of its total issued and paid-up capital.
PT Sucor Sekuritas acts as underwriter for this IPO. The offering starts today and listing on Indonesia Stock Exchange (IDX) is set for August 30, 2018. Eight years ago, the Group actually started IPO for subsidiary PT Molindo Raya Industrial, but aborted.