FOLK Gears Up for IPO

By Editorial Team 21/07/2023
Summary

New media company PT Multi Garam Utama Tbk (FOLK) plans to hold an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX). The company will release 570 million shares and aim to raise Rp 59.85 billion in the process.

In a statement on Thursday, FOLK revealed a mission to build a scalable and sustainable ecosystem in the creative industry by actively collaborating with disruptors.

The company particularly targets Millennials and Gen Z. "We will convey positive education using the company's media facilities and also create local products that are sustainable and environmentally friendly," Folk Management elaborated.

Folk's book-building period will take place on Jul 20-24, with the scheduled effective date on Jul 31. The initial public offering period will happen on Aug 1-3, while the allotment date will be on Aug 3.

Aside from holding an IPO, FOLK will also issue 285 million units of Series I warrants. Each holder of two new shares will receive one unit of Series I warrant which can be exchanged for a FOLK share at a price of Rp 200.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.