Jakarta - PT Global Sukses Solusi Tbk set an initial public offering (IPO) price of Rp254 per share.

Based on the brief prospectus released on Wednesday (1/9), in the corporate action, the company released 196.8 million shares or 20.1% of the total issued capital.

The company is estimated to receive funds from the IPO of around Rp49.98 billion.

Approximately 74% of the proceeds from the IPO are allocated as working capital, around 11% for acquisitions and market expansion, around 10% for research and technology, and 5% for capital expenditures.

The IPO issuance underwriters are entrusted to PT BRI Danareksa Sekuritas and PT Mirae Asset Sekuritas Indonesia.

The schedule for the implementation of the IPO issuance is the effective date on August 31, the offering period September 2-6, allotment September 7, and listing on the IDX September 8, 2021.