Jakarta - PT Global Sukses Solusi Tbk plans to conduct an initial public offering (IPO) by issuing a maximum of 196.8 million shares or representing 20.01% of the total issued capital.

The brief prospectus published on Thursday (19/8) shows the IPO exercise price is Rp254 per share. Thus, the total value of the IPO is Rp49.98 billion.

The company also conducts an ESA program by allocating shares as much as 1% of the total issued shares offered or equivalent to 1.96 million shares.

The company will use around 74% of the proceeds from the IPO for working capital, including financing for new projects, about 11% for acquisitions and expansions, approximately 10% for research and development, and 5% for the company's capital expenditures.

The company appointed PT BRI Danareksa Sekuritas and Mirae Asset Sekuritas Indonesia as underwriters for the issuance.

The IPO schedule is the initial offering period  August 20-25, 2021, t