Adaro Energy’s subsidiary engaged in the coal sector, PT Adaro Andalan Indonesia Tbk. (AADI) will conduct an initial public offering (IPO).
Quoting its prospectus, through this corporate action, there will be 778,689,200 ordinary shares in the name of the company, all of which are new shares issued from the company’s portfolio, with a nominal value of Rp3,125 per share, representing 10% of the company’s issued and paid-up capital after the initial public offering.
Meanwhile, the shares that will be offered to the public at an offering price of Rp5,550 per share. Thus, the company will receive fresh funds amounting to Rp4,321,725,060,000.
For your information, AAI is a parent company that owns subsidiaries engaged in the thermal coal mining business, logistics, land asset management (Adaro Land), water management (Adaro Water), and other fields, including investments (Adaro Capital), electricity, consulting services in the mining sector, and information technology development.
The operational areas of the Company’s Group include Jakarta, South Kalimantan, South Sumatra, Central Kalimantan, East Java, West Java, Riau, North Sumatra, and North Kalimantan.
To learn more about the Adaro Andalan IPO, here is the complete schedule for the Adaro Andalan Indonesia (AADI) IPO:
⁃ Initial offering period November 12-18, 2024
⁃ Estimated effective date November 26, 2024
⁃ Public offering period November 29-December 3, 2024
⁃ Estimated allotment date December 3, 2024
⁃ Estimated electronic share distribution date December 4, 2024
⁃ Estimated listing date on IDX December 5, 2024
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