A company engaged in the car body, PT Harapan Duta Pertiwi, is ready to take the floor on the Indonesia Stock Exchange (IDX) on May 24, 2021.

The prospective company to be listed with the ticker code HOPE releases 40% of the issued and fully paid capital or the equivalent of 851.67 million shares. The company offers the share at a price of Rp118 each.

As a result, in the process of an initial public offering (IPO), Harapan Duta Pertiwi would pocket fresh funds of up to Rp100.5 billion.

After the public offering during May 11-18, 2021, Harapan Duta Pertiwi's shares were oversubscribed more than 100 times.

In this corporate action, Harapan Duta Pertiwi took PT Danatama Makmur Sekuritas and PT Yuanta Sekuritas Indonesia as lead underwriters or underwriters.

As a sweetener, Harapan Duta Pertiwi also issued 425.83 million Series I warrants. The ratio of warrants issued is that every two new shares will get one Series I warrant.