Amman Mineral to Reach Rp 121.9 Tln Market Capitalization

By Editorial Team 07/07/2023
IPO business process
Summary

PT Amman Mineral Internasional Tbk (AMMN) will go public on the Indonesia Stock Exchange on Jul 7. Investors are enthusiastically welcoming AMMN's initial public offering (IPO), evident from the oversubscription of 13.6 times the pooling portion. Amman Mineral's IPO will be the largest public offering this year, with the expected raised funds of Rp 10.73 trillion.

At Rp 1,695 per share, AMMN will have a market capitalization of Rp 121.9 trillion by the time it lists its shares. "Investors' interest in a centralized allotment or pooling is also quite high, apparent from the oversubscription number of up to 13.6 times with more than 27,000 investors. The pooling size also increased from 2.5 to 7.5 percent of the total number of shares offered in the AMMN IPO due to the oversubscription," PT Mandiri Sekuritas president director Oki Ramadhana said in an official statement on Thursday.

Apart from Mandiri Sekuritas, AMMN has appointed several underwriters for the IPO: PT BNI Sekuritas, PT CLSA Sekuritas Indonesia, and PT DBS Vickers Indonesia. "AMMN will officially be on the floor of the Indonesia Stock Exchange starting Friday. We hope that support from market players will remain positive," AMMN president director Alexander Ramlie said.

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