Jakarta, CNBC Indonesia – A cosmetics manufacturing company, PT Victoria Care Indonesia Tbk (VICI) will conduct an initial public offering (IPO) by releasing 1,008 billion shares to the public at a price of Rp 100 / share. The proceeds from this public offering will be used by the company for the company’s working capital.
In more detail, the company will release 15.02% of its shares to the public and obtain funds worth Rp 100.80 billion. 26% of this fund will be used to purchase fixed assets in the form of land and buildings, to support warehousing facilities and the remaining 74% will be used for working capital.
President Director and company founder Billy Hartono Salim said that until July 2020, the company’s sales reached Rp 617.96 billion. Meanwhile, until December 2019, the company’s revenue reached IDR 797.79 billion.
On average, the Gross Profit Margin (GPM) per year for four consecutive years is above 50%.
“Meanwhile, the net income for the seven months of 2020 has reached Rp. 97.07 billion, while for 12 months of 2019, the company’s net income is Rp. 111.76 billion,” Billy said in a press release, Tuesday (8/12/2020).
For the schedule, the public offering will be held on December 8-11 2020, then the allotment will be carried out on December 15, 2020. Share distribution will be carried out on December 16, 2020 and the listing of shares on the Indonesia Stock Exchange (IDX) will be carried out on December 17, 2020.
Victoria Care Indonesia has received an effective statement to hold an IPO from the Financial Services Authority (OJK) on Friday, December 4, 2020
Victoria Care Indonesia was established in 2007, offering beauty and body care products with the Herborist brand such as stretch, body butter, olive oil, lotion, soap, face mask, hair vitamins, hair dye, shampoo and others.
The company puts forward a flexible R&D and production strategy so that it can meet needs and add new products. This is done to respond quickly to new trends that occur in the market and adapt to changing consumer patterns.
Its products are marketed domestically and in several countries in Asia such as Japan, China, Korea, Malaysia, Brunei Darussalam and Hong Kong.
Domestically, the company has five branch offices, namely Jakarta, Bandung, Semarang, Surabaya and Denpasar, with 30 distributors, 60,000 traditional retailers and 9,000 modern retailers and 3,000 traditional wholesalers.
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