PT Nusantara Sejahtera Raya, the operator of Indonesia’s largest movie theater chain Cinema XXI, seeks up to 2.4 trillion rupiah ($159.4 million) in an initial public offering to expand operations.
(Bloomberg) — PT Nusantara Sejahtera Raya, the operator of Indonesia’s largest movie theater chain Cinema XXI, seeks up to 2.4 trillion rupiah ($159.4 million) in an initial public offering to expand operations.
The company will offer as much as 8.34 billion shares at price range between 270 to 288 rupiah each, according to a prospectus published on a local newspaper on Friday. Bookbuilding is scheduled for July 10-14 and a listing on the Jakarta stock exchange on Aug. 2.
Shareholders PT Harkatjaya Bumipersada and PT Adi Pratama Nusantara plan to sell a 10% stake via private placement at listing date. JP Morgan Sekuritas Indonesia, UBS Sekuritas Indonesia, Indo Premier Sekuritas and Mandiri Sekuritas are underwriters.
Most of the proceeds to be used to expand Cinema XXI’s network while 20% for early repayment of debt to Bank Rakyat Indonesia. The movie theater chain operates 1,216 screens across Indonesia as of last year.
–With assistance from Norman Harsono.
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