PT Bank Multiarta Sentosa plans to list its initial shares or IPO as many as 186,176,500 new shares or 15% of the issued capital.

The brief prospectus published on Monday (7/6), the IPO offering price is Rp3,000-4,000 per share. Thus, the total value of shares offered in the IPO is a maximum of Rp774.70 billion.

Along with the IPO, the company also issued a maximum of 186,176,500 series I warrants or 17.85% of the total number of issued and paid-up shares.

The funds obtained from this IPO will be used entirely for capital strengthening, in accordance with OJK Regulation No. 12/POJK/03/2020 concerning General Bank Consolidation, which regulates the fulfillment of a minimum core capital of Rp3 trillion.

The company will use the financial statements ending December 31, 2020, where net interest income was recorded at Rp451.35 billion and profit for the year was around Rp108.19 billion.

The company's total assets reached Rp21.53 trill