PT Shield on Service (SOS), security services provider, plans to launch the initial public offering (IPO) for 150 million shares, representing 23.08% of its total issued and paid-up capital, priced at Rp250-275 per share, to raise total proceeds of Rp37.5 billion to Rp41.25 billion. Sinarmas Sekuritas acts underwriter for this IPO. AT this prices, SOS offers price earning ratio (PER) of 8.9x for this year and 6.3x for next year.

Along with, the Company will also issue 150 million units of warrant. The IPO proceeds wll be used for paying debt to AB Simas (71.23% proceeds), capital placement in HR PRO (20.61%), and the rest for working capital. In January-April 2018 period, SOS booked net revenues of Rp192 billion and net profit of Rp4 billion.