A company engaged in household appliances and equipment manufacturer, PT Imago Mulia Persada (LFLO), listed its initial shares on the Indonesia Stock Exchange (IDX), today (7/4).

"Shares of the Company are listed on the IDX on April 7, 2021, with the code LFLO," said Head of Corporate Valuation Division 1 BEI Adi Pratomo Aryanto.

LFLO conducted a public offering of 300 million shares with a nominal value of Rp 10. This amount is equivalent to 23.08% of the issued and paid-up capital after the public offering.

Through this initial public offering (IPO), the company estimates to raise Rp30 billion in funds.

Quoting the prospectus, the company will use proceeds from this IPO, up to 86.41% for the company's working capital, around 7.17% for capital expenditures related to the opening of a new showroom, and the remaining around 6.42% for the purchase of the required hardware and software for online platform development.

In carrying out the IPO process, LFLO appointed PT Danatama Makmur Sekuritas, PT Henan Putihrai Sekuritas and PT Reliance Sekuritas Indonesia Tbk as underwriters.