PT Bangun Kosambi Sukses, a subsidiary of PT Pantai Indah Kapuk Dua (PANI), is set to go public with its initial public offering (IPO) on the Indonesia Stock Exchange (IDX).
The property and real estate company plans to offer 566.89 million shares, equivalent to 10 percent of its paid-up and issued capital post-IPO, under the company code CBDK.
The company has set its initial offering price range between Rp3,000 and Rp4,060 per share, aiming to raise between Rp1.7 trillion and Rp2.3 trillion (US$143.7 million). This places its valuation between Rp17 trillion and Rp23 trillion.
IPO timeline and key details
Bookbuilding Period: December 13–20, 2024
Public Offering: January 3–9, 2025
Listing on IDX: January 13, 2025
Ownership and background
CBDK was acquired by PANI in August 2022 through a rights issue. As of mid-2024, its ownership structure is as follows:
- PT Pantai Indah Kapuk Dua Tbk (PANI): 51 percent;
- PT Agung Sedayu: 24.5 percent;
- PT Tunas Mekar Jaya: 24.5 percent;
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