PT Swayasa Prakasa Tbk targets Rp45.22 billion in upcoming IPO

PT Swayasa Prakasa Tbk (SWAP), a subsidiary of Universitas Gadjah Mada (UGM) investment holding company PT Gama Multi Usaha Mandiri, is preparing for an Initial Public Offering (IPO) on the Indonesia Stock Exchange.

The company aims to raise a maximum of Rp45.22 billion by offering up to 323 million new shares, representing approximately 30.30 percent of its total paid-up capital after the offering. The bookbuilding process is scheduled for August 24–27, 2026, with an initial price range set between Rp130 and Rp140 per share.

The public offering period is slated for September 2–8, 2026, with share allotment on September 8 and distribution on September 9. The company expects to officially list its shares on September 10, 2026. PT Sukadana Prima Sekuritas has been appointed as the underwriter.

Proceeds from the IPO will be allocated toward several corporate needs: approximately Rp15.8 billion for working capital to increase production capacity and product quality, Rp12.2 billion for capital expenditures, and Rp12 billion to settle obligations to PT Gama Multi Usaha Mandiri and the Universitas Gadjah Mada Foundation.