Myohdotcom to go public

JAKARTA (JP): Software developer PT Myohdotcom Indonesia Tbk will launch its initial public offering (IPO) next month to raise funds to finance its expansion.

The company's chief commissioner Jaegopal Hutapea said here early this week that the company will sell between 150 million and 250 million shares during the public offering.

He said that the shares, with a nominal value of Rp 25, will be sold up to Rp 250 per share. "We expect to raise between Rp 252.2 billion (about US$30 million) to Rp 267.2 billion from the IPO," he said.

Myohdotcom, which develops DOS based hotel management software and other software related to business management, plans to list its shares on the Surabaya stock exchange after the IPO. (bkm)