Ceramic producer Cahayaputra Asa Keramik has set its IPO prices at Rp130-200 per share, to raise total proceeds of Rp39-60 billion. It will offer 300 million shares through the initial public offering (IPO), representing 24.93% of its total issued and paid-up capital.

IPO proceeds will be used for paying debt (Rp19 billion), purchased machine and installation, and building production building. PT Buana Capital Sekuitas acts underwriter for this IPO. The book building started on Thursday (Oct 4) and will last in October 10, 2018. The offering is scheduled for October 19-23, 2018 while listing on stock exchange is set for October 30, 2018.

Cahayaputra also offer warrants priced at Rp150-220 per unit, the proceeds to support its working capital. The Company targets to book revenue of Rp260 billion and net profit of Rp15 billion for this year. It allocates capex of Rp18 billion for this year.