PT Panca Anugra Wisesa Tbk plans to conduct an initial public offering by releasing as many as 400 million new shares.

Citing KSEI's data, on Wednesday (2/6), the company set the  IPO price at Rp135 per share. The company plans to use the issuer code MGLV.

The proceeds from the IPO will be used for working capital for purchasing supplies and marketing activities of around 88.51% and capital expenditure for opening a new showroom of approximately 11.49%.

In the framework of the IPO, a company engaged in providing furniture and architecture appointed PT Danatama Makmur Sekuritas as the implementing underwriter, and the underwriter was PT Henan Putihrai Sekuritas.

Along with the issuance of new shares, the company also offered 400 million series I warrants, representing 26.67% of the total issued and fully paid shares. The exercise price for the warrants is Rp200.

Meanwhile, the schedule for the implementation of the IPO is the