Another Boy Thohir Company IPO, this is the price

Jakarta, CNBC Indonesia – A subsidiary of PT Adaro Energy Tbk (ADRO), namely PT Adaro Minerals Indonesia will conduct an initial public offering (initial public offering/IPO).

This company offers a maximum of 6,048,580,000 with a nominal value of Rp 100/share, equivalent to 15% of the issued and fully paid capital after the public offering at Rp 100-Rp 125 per share.

Based on the prospectus released, with this price range, the company will get funds of Rp 604.85 billion to Rp 756.07 billion.

If there is an excess of orders in the centralized allotment (pooling allotment), the company will issue a maximum of 604,858,000 or 1.48% of new shares at the same price. So the company can potentially get a maximum of Rp 831.67 billion in funds.

60% of the funds from this IPO will be used to provide loans to its subsidiary, PT Maruwai Coal (MC), for capital expenditures in the form of repairs and capacity building for coal mining infrastructure and supporting infrastructure.

This is given in order to increase coal production and exploration costs for the purposes of developing mining techniques in Lampunut in the period 2022 to 2023.

Meanwhile, the remainder will be used to repay part of the company’s loan principal from Adaro Energy.

The company will cooperate with PT Ciptadana Sekuritas Asia as the implementing underwriter.

For the schedule, the initial offer (book building) is carried out starting today, Thursday (9/12/2021) until December 16, 2021. Effective from the Financial Services Authority (OJK) it is targeted to be obtained on December 22, 2021 and a public offering will be made on December 24-28 2021.

The listing of shares is targeted to be carried out on December 30, 2021.

The company is engaged in the mining and trading of metallurgical coal and management consulting services.

In terms of performance, the company recorded a profit for the year of Rp. US$ 44.99 million or Rp. 638.85 billion as of December 31, 2021. This value is inversely proportional to the position in the same period the previous year which recorded a loss of US$ 18.63 million.

The company’s operating income during this period reached US$ 206.62 million or Rp 2.93 trillion. A significant increase from the position at the end of August 2020 which amounted to US$ 74.79 million.

The company’s assets were recorded at US$ 811.001 million, down from the position of US$ 855.22 million at the end of 2020. Liabilities were recorded at US$ 761.96 million, an increase from the position of US$ 596.07 million last year.

The company’s equity fell drastically to US$ 49.03 million from the same position last year of US$ 259.14 million as of December 31, 2020.

[Gambas:Video CNBC]

(my / hps)



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