Developer’s Confidence 312.5 Million Offer Shares

JAKARTA, KOMPAS.com – Although only completed construction of the structure of the project One apartment Casablanca in South Jakarta, Forza Land confidently release the 312.5 million shares through the IPO, on Wednesday (16/11/2016).

The stock price has been set at 100, so that the expected value that will be scooped up by Rp 100 billion.

The proceeds from the IPO will be used as an investment of 40 percent in PT Borneo Facility Property (BSP ) for the project One Paradise City with a share of 99.01 percent.

Investments made by the company to the BSP will be used for debt repayment and working capital.

While 13 percent is allocated for debt repayment and other remainder for working capital.

Director of Forza Land Freddy Setiawan said confidently sell shares this year because of the products that have been and are being developed on the strategic location.

“One Casablanca for example, has sold 80 per cent or 172 units of a total of 220 units. Then One Azure 40 percent, and One Velvet 20 percent,” said Freddy.

Independent Director Patris Jasur added , for the three projects Forza Land has grossed sales of Rp 2 trillion.

“While sales targets recognized until the end of the year to Rp 105 billion,” he added.

Plan 2017

for the next year, Forza Land realize the development of One Ungasan in Bali. Prices are set to 101 residential units are serentang Rp 3 billion to $ 5 billion.

“The investment value of Rp 130 billion,” said Patris.

Furthermore, the project One Azure is designed for the middle class down cost Rp 400 million. Portions studios about 60 percent of the total 1,400 units.

After the IPO, Forza Land plans to issue Medium Term Notes (MTN) of Rp 300 billion.

“Because the funding requirements ya next year around Rp 300 billion,” said Patris.

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