Dyviacom eyes JSX listing

Dyviacom eyes JSX listing

JAKARTA (JP): Internet service provider PT Dyviacom Intrabumi
said on Monday it planned to sell about 64 million new shares in
an initial public offering (IPO) later this month.

The company said in a press statement that it would also issue
25.6 million in warrants during the IPO.

For every 500 shares issued during the IPO, shareholders would
receive 200 warrants, the company said, adding that it would list
all of its shares on the Jakarta Stock Exchange (JSX) after the
IPO.

The company has yet to unveil the price of its shares, each
with a nominal value of Rp 250 (about 2.7 U.S. cents).

The company said the shares and warrants issued, would later
make up 42.7 percent of the company's ownership composition.

It said the IPO funds would be mainly used to expand its
network, pay debts and for working capital.

Dyviacom has appointed PT Trimegah Securities as its
underwriter. (bkm)