Jakarta, CNBC Indonesia – A dairy and food product company, PT Cisarua Mountain Dairy alias Cimory, has set its share offering price at Rp 3,080/share. This price has almost reached the upper limit price previously offered, which is in the range of Rp 2,780 to Rp 3,160 per share.
Based on the prospectus released by the company, the number of shares to be offered is 1,190,203,000 or equivalent to 15% of the company’s issued and paid-up capital after the public offering at a nominal price of Rp 10/share.
Thus, later the company will obtain funds worth Rp. 3.66 trillion from the initial public offering (IPO).initial public offering/ IPO) this.
33% of the proceeds from this public offering will be used for capital expenditures (capital expenditure/capex) relating to the addition of capacity for production facilities in the form of property, plant, and equipment.
Then 25% will be used for capital injections to its subsidiaries, with details of 80% PT Macroprima Panganutama (MP) which is engaged in the food processing and canning business. Later 80% will be used for capex and the rest for working capital.
20% will be used for capital injection to its subsidiary PT Macrosenta Niagaboga (MN) of which 75% will be used for capex for business expansion and 25% for working capital.
The allocation of 15% will be used for distribution channel expansion capex and 7% for working capital, namely operational financing.
The Company budgeted 0.06% of the number of shares offered for the Company’s Employee Share Ownership Program (Employee Stock Allocation/ESA). The ESA program is provided free of charge to employees who meet established criteria.
In addition, the company plans to issue a maximum of 10% shares for the Share Purchase Option Program for Management and Employees (Management and Employee Stock Option Plan/ MESOP).
The public offering period will be from November 30 to December 2, 2021. The allotment response will be carried out on December 2 and listing shares on the Indonesia Stock Exchange (IDX) on December 6, 2021.
The company appointed PT CLSA Sekuritas Indonesia and PT Mandiri Sekuritas as the underwriters for the securities issuance and PT Panin Sekuritas as the underwriters.
(mon / hps)