Textile and garment trader PT Ryane Adibusana Tbk said it will launch an initial public offering on the Jakarta Stock Exchange in September.

The company will offer 150 million shares to the public at a nominal price of Rp100 per share.

Around 60 per cent of the fund raised from the share sales will be used for business expansion, infrastructure procurement and to strengthen its working capital.

The company has 15 stores throughout the country and it plans to open more stores to expand sales, a company spokesman said.

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