Jakarta, CNBC Indonesia – The household appliance industry company, PT Selaras Citra Nusantara Perkasa Tbk, plans to conduct an initial public offering or initial public offering (IPO) on the Indonesia Stock Exchange.
In the prospectus delivered on Friday (14/8/2020), the company plans to offer as many as 500 million new shares or 20% of the issued and fully paid capital.
The initial public offering price for the company whose factory is located in Cileungsi, Bogor, West Java has not yet been determined. However, the nominal value of the company’s shares is IDR 100 / share.
From this corporate action, the company plans to use the IPO proceeds by 55 percent to expand the factory area. Approximately 15% for the development of marketing activities, 10% for the development of operational technology infrastructure, and 6% each for the development of sales and purchase of injection machines.
Meanwhile, the remaining 15% is for the working capital of a subsidiary, PT Selaras Donlim Indonesia.
The initial offering period is scheduled for 14-26 August 2020. The effective statement from the Financial Services Authority is estimated for 31 August 2020. The allotment date is scheduled for 2 September 2020 and listing of shares on the IDX on 7 September.
The company appointed CIMB Sekuritas as the underwriter.
In addition, the company also holds an ESA program (employee stock allocation) by allocating a maximum of 10% of the shares offered and issuing stock options for the MESOP (Management Stock Option Program) up to 3% of the shares offered.
For your information, there have been 35 companies listed on the IDX throughout 2020. PT Sumber Global Energy Tbk (SGER) is the 35th listed company on August 10, 2020 and listed on the development board.
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