PT Swayasa Prakasa Tbk (SWAP), a company owned by Gadjah Mada University (UGM), will conduct an IPO on the Indonesia Stock Exchange to raise Rp 45.22 billion. They plan to offer a maximum of 323 million new shares at an offering price between Rp 130-Rp 140 per share. The proceeds from the IPO will be used for working capital, capital expenditure, and debt repayment to UGM affiliates. Swayasa Prakasa was established in 2012 as part of the effort to commercialize UGM research results and operates in the health product manufacturing industry. Currently, PT Gama Multi Usaha Mandiri is the controlling shareholder with a 97.16% ownership.
