PT Bundamedik Tbk set an initial public offering (IPO) price of Rp340 per share.

The brief prospectus issued on Tuesday (29/6) showed Bundamedik plans to issue a maximum of 620 million shares or 7.26% of the issued and fully paid capital after the IPO. The proceeds of total public offering may reach Rp210.8 billion.

If there is an oversubscription at the time of allotment, the company will issue a maximum of 62 million ordinary shares or representing 0.72%, with an offering price of Rp340 per share.

Thus, the total number of public offerings is a maximum of Rp231.88 billion.

Along with the IPO, the company will issue convertible bonds to Akasya Investments Limited to implement the conversion of bonds issued under the bond agreement with a total of 421.41 million shares.

The amount of bonds to be converted is Rp143.28 billion.

In this corporate action, the company appointed PT Ciptadana Sekuritas Asia as the underwriter for