Initial Public Offering IPO
On November 24, 2017, PT PP Presisi Tbk listed 2,351,221,000 shares in the Indonesia Stock Exchange (IDX), equivalent to 23% of the Company's issued and fully paid capital after the Initial Public Offering (IPO). PT PP Presisi Tbk was listed with a trade code (ticker): PPRE on the Main Board, Sector: Infrastructure, Utilities & Transportation with the Sub-Sector: Non Building Construction. On the same occasion, the Board of Commissioners of the Financial Services Authority (OJK) through Decree No: KEP 54 / D.04 / 2017, stipulated the shares of PPRE as Sharia Securities.
Ir. Iswanto Amperawan
The initial price was set Rp430 per share, bringing the total IPO proceed amounting to Rp1.01 trillion. By its listing, PT PP Presisi Tbk added the number of listed companies among the PP (Persero) to be 3, completing 2 previously ones, namely: PT PP (Persero) Tbk (PTPP), and PT PP Properti Tbk (PPRO).
The listing is the culmination of the long journey of the IPO plan which is part of the business transformation process that has been carried out by PP Presisi since 2013. Through a series of business transformation processes that are still ongoing today, PP Presisi has emerged from a small scale construction equipment rental company with equity of only Rp500 million when it was established in 2004 becoming a leading heavy equipment-based integrated construction company in Indonesia with market capitalization at an IPO of Rp4.4 trillion.