OFFERING SHARES TO THE PUBLIC, MAHKOTA GROUP OPEN PRICE IDR 250 PER SHEET
22 June 2018
JawaPos.com - PT Mahkota Group Tbk will plan to conduct an Initial Public Offering (IPO) of as many as 703 million shares or equivalent to 20 percent of the total issued and fully paid capital after the implementation of the IPO.
“The nominal value is IDR 100 per share with an offering price range of IDR 200 to IDR 250 per share,” said President Director Usli at the Ritz Carlton Pacific Place Jakarta, Friday (22/6).
Usli explained that around 60 percent of the IPO proceeds will be used for the development of the downstream industry through investment in PT Mutiara Unggul Lestari (MUL, a subsidiary of the Company), namely PT lntan Sejati Andalan (ISA, a subsidiary of MUL) which will be used for the construction of a Refinery and Kernel Crushing Plant located on Duri Dumai road, Bathin Sobanga Village, Bengkalis Regency, Riau Province.
Usli explained that the construction of the plant took eight months, starting three months after the Company received the proceeds from the Initial Public Offering. The purpose of building the Refinery and Kernel Crushing Plant is to add value to the company.
With the construction of the Refinery and Kernel Crushing Plant, he said, the company can carry out a pemumian system that can produce olein (edible oil) and sterin (raw material for margarine and oleochemicals) derivatives and other derivative products.
“With the development of this downstream industry, the Company hopes to increase the Company's revenue,” he explained.
Then, around 40 percent of the IPO proceeds will be used for working capital to its subsidiaries, namely PT Mutiara Unggul Lestari, PT Berlian lnti Mekar and PT lntan Sejati Andalan.
In this corporate action, the company appointed PT Panin Sekuritas Tbk as Underwriter in the Company's Initial Public Offering which will be held in early July 2018. It is expected that this plan will receive an effective statement on June 29, 2018, so that the Public Offering Period can be carried out on July 3-9, 2018.
“And we hope that the company's shares can be listed on the Indonesia Stock Exchange on July 12, 2018,” he concluded.