Jakarta - PT Adaro Minerals Indonesia Tbk has set an initial public offering (IPO) price of Rp100 per share.

Based on KSEI's information disclosure, Monday (27/12), the company is estimated to receive Rp604.8 billion in IPO funds from the 6.04 billion shares offered for the IPO.

The company will use 60% of the proceeds from the IPO to provide loans to MC and use the rest to repay a portion of the principal of the share loan from Adaro Energy Tbk.

The company appointed PT Ciptadana Sekuritas Asia as the underwriter for the issuance.

The IPO schedule is the effective date from OJK on December 23, 2021. The public offering period will take place December 27-29, 2021, with the allotment of shares on December 29, 2021, and listing on the IDX on December 30, 2021.

The company will use the financial statement book as of August 31, 2021, where the company's revenue for that period was recorded at Rp. 206.62 billion, profit for the ye