Officially conducting an Initial Public Offering (IPO), PT Diagnos Laboratorium Utama Tbk eyes to raise Rp 50 billion.

The company with the issuer code DGNS will sell 250 million shares representing 20 percent of the issued and fully paid capital at Rp200 per share.

In this IPO process, PT Mirae Asset Sekuritas Indonesia has been appointed as the underwriter for the share sale.

According to the plan, 42.6 percent of the IPO proceeds will be used for the construction of the main building and some branch buildings. DGNS will also purchase operational vehicles and related laboratory equipment.

In details, of the proceeds, around Rp8.35 billion will be used to purchase equipment, Rp4.95 billion to buy vehicles, and Rp8 billion to build laboratories.