<article>Indonesian IT firm <a href="http://www.anabatic.com/" target="_blank">PT Anabatic Technologies</a> is looking to raise up to Rp514 billion ($38.46 million) through an initial public offering (IPO), to finance its expansion and repay debt.</article>

Indonesian IT firm <a href="http://www.anabatic.com/" target="_blank">PT Anabatic Technologies</a> is looking to raise up to Rp514 billion ($38.46 million) through an initial public offering (IPO), to finance its expansion and repay debt.
The consultancy and software solutions company will sell 642.86 million new shares, equivalent to a 30 per cent stake, at an indicative price range of Rp650 to Rp800 per share, the <a href="http://www.theedgemarkets.com/my/article/indonesias-anabatic-tech-targets-raise-39-mln-ipo?type=Corporate" target="_blank">Edge Financial Daily reported</a>.
&#8220;With the prices, the company may gain at around Rp417.85 to Rp514.28 billion in funds,&#8221;Indonesian media <a href="http://en.metrotvnews.com/read/2015/06/05/402214/releasing-30-share-anabatic-technologies-aims-for-rp514-billion-funds" target="_blank">MetroTV News reported</a>.
Bookbuilding will begin Friday and the IPO is scheduled for June 29 through July 1.
Of the fresh fund raised in this IPO, 60 per cent will be used to expand corporate business and sister companies covering the development of products and market expansion, whereas the remaining 40 per cent is to be e used to settle debts, to be utilized in adding the corporate and sister companies working capital.
Established in 2002, Anabatic Technologies has expanded its overseas business to Singapore, Malaysia, India and the Philippines. The majority of Anabatic Technologies share is owned by PT Artha Investama Jaya at 50.26 per cent.
Anabatic Technologies&#8217; total assets was valued at Rp1.974 trillion in 2014.
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PT Anabatic Technologies is looking to raise up to Rp514 billion ($38.46 million) through an initial public offering (IPO), to finance its expansion and repay debt.

Indonesia's Anabatic Technologies plans $39m IPO

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Indonesia's Anabatic Technologies plans $39m IPO

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