PT Ladangbaja Murni Tbk plans to conduct an initial public offering by releasing 200 million units of shares.

Based on KSEI's publication quoted on Wednesday (2/6), the company engaged in trading and production of steel and steel derivative products has set an exercise price of Rp125 per share.

Along with the issuance of new shares, Ladangbaja Murni also issued 280 million series I warrants, or about 35% of the total issued and fully paid shares. The exercise price for the warrants is Rp150.

The company has appointed PT Indo Capital Sekuritas, PT Panin Sekuritas, and PT Reliance Sekuritas Indonesia as the underwriter for the securities issuance.

Meanwhile, the implementation schedule is the public offering period taking place on June 2-4, 2021, allotment June 8, 2021, refund of subscription fees and electronic distribution of shares and warrants each June 9, 2021, the listing of shares and warrants on the IDX June 10 10, 2021, as well as a