Recreation park Ancol to go public

Recreation park Ancol to go public

JAKARTA: PT Pembangunan Jaya Ancol, a recreation park operator, said on Monday it planned to sell up to 127 million shares through a public offering in June.

"We plan to sell up to 15 percent of our total equity," Jaya Ancol president Budi Karya Sumadi told reporters.

He said the company expects to raise up to Rp 180 billion from the IPO, which will be used to develop business. Jaya Ancol, which is 80 percent owned by the Jakarta administration, has around 11 million visitors annually, Budi said. -- Dow Jones