GSI to launch IPO
Saturday, July 18 2015 - 03:54 AM WIB
Seismic survey provider PT Gelombang Seismic Indonesia (GSI) plans to sell up to 42.86 percent shares via an initial public offering (IPO) next month.
The company said in a prospectus published Wednesday, that offering period is scheduled on August 4-6, 2015, and the shares to be listed on the Indonesia Stock Exchange on August 13.
PT Panca Global Securities TBK has been appointed as the lead underwriter of the IPO.
GSI said that about 70 percent of the IPO proceeds will be used to finance capital expenditure particularly for the purchase of new equipment for 3D seismic survey, and the remainder 30 percent for working capital.
Current GSI shareholders include Benyamin Dwijanto (19.20%), Surjo Tedjono (19.20%), Hindarto Suharjo (19.20%), Jeffrey Tamara (19.20%), Barita S. Sihombing (9.60%), Wahyudia Budi Setyanto (9.60%), and Tjong tek Slong (4%).
Editing by Reiner Simanjuntak