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IPO Forza Land off the 20% Stock

PT Indonesia Tbk. Forza Land ready to unleash as many 312.5 million shares or 20% of the entire stock to the public through an IPO or initial public offering (IPO).

In a prospectus published Wednesday (16/12/2016), Forza Land also published as many 437.5 million sheet series I warrant for free for each new shareholders. Each of the five new shares will berthak acquire seven warrants series I.

Call management, granting warrants series I done as an incentive for new shareholders whose name is recorded in the list of shareholders when the allotment date on 8 December 2016. As for the initial offer period, will began on this day until 18 November 2016.

Forza Land plans to use the IPO funds as many of 40% for the acquisition of PT Borneo Means affiliated company property, which has assets of Rp35,5 billion. As for, the value of the acquisition being estimated reach Rp40 billion. Meanwhile the rest of the IPO funds will be used to repay debt and working capital.

Total assets per Forza Land June 2016 reached Rp428,144 billion with revenues as much as Rp37,95 billion. Forza Land established in 2012 with majority ownership portion is held by PT Forza 85,2% as much as Indonesia.

Forza has six Land property development project located in Casablanca, Serpong, natural silk, Ungasan, and Uluwatu. The total area of land for five projects achieving 22.13 hectares with a number of apartments and villas to be built reached 2,506 units.

Up to now, Forza Land already marketed three project properties. Apartment Casablanca One already sold 172 units while One Azure sold 503 units. As for One project, the Velvet is already sold 117 units…(Red)

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