Property developer PT Adhi Commuter Properti (ACP), subsidiary of state construction firm Adhi Karya (ADHI), plans to launch an initial public offering (IPO) for 30% shares in the second quarter (Q2) of 2020, targeting to raise Rp2.5 trillion fund. ACP Director Mochamad Yusuf said the Company would use IPO funds for this year’s capital expenditure (capex) of Rp3.5 trillion, also to refinancing bond debt.

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