12 July 2018

INILAHCOM, Jakarta - PT Mahkota Group Tbk, today officially listed on the Indonesia Stock Exchange (IDX) as the 28th company in 2018, with the issuer code MGRO.

The funds obtained from this Initial Public Offering (IPO) celebration amounting to IDR158 billion will be used by the company to build a new factory where the company's main business is the management of the palm oil industry.

“60% will be used for the development of the downstream industry through investment in subsidiaries, to build a refinary plant and kernel crushing plant in Dumai, with a capacity of 1,500 tons per day,” said President Director Usli Rusli at the IDX Building, Jakarta, Thursday (07/12/2018).

The company released 703 million shares to the market at an initial offering price of Rp225.

At the opening of trading, MGRO shares rose 112 points or 49.56% to IDR 338 from the opening price of IDR 225. MGRO shares were transacted 1 time with a volume of 10 lots and resulted in a transaction value of IDR 338 thousand.

“By listing Mahkota Group as a public company, we will implement good corporate governance and work professionally,” said Usli.

While the remaining 40% will be used for working capital to subsidiaries, namely PT Mutiara Unggul Lestari, PT Berlian lnti Mekar and PT Intan Sejati Andalan.

PT Panin Sekuritas has been appointed as the underwriter in the initial public offering. [jin]

Source : http://pasarmodal.inilah.com/read/detail/2467486/gaet-dana-ipo--rp158-m-mahkota-group-bangun-pabrik