JAKARTA, NNC - PT Mahkota Group Tbk plans to conduct an Initial Public Offering (IPO) of 703,688,000 Registered Shares or as much as 20 percent of total issued and fully paid-up capital after the IPO.
The shares with a nominal value of IDR100 per share will be sold at prices in the range of IDR200 to IDR250 for each share offered. This was conveyed by the President Director of Mahkota Group, Usli in public exposure of the company's IPO in Jakarta, Friday (6/22/2018).
He explained that around 60 percent of the IPO proceeds will be used for the development of downstream industries through investments to Subsidiary Company PT Mutiara Unggul Lestari (MUL Subsidiary Company), namely PT lntan Sejati Andalan which will be used for the construction of Refinery and Kernel Crushing Plant which is located in Duri Dumai road, Bathin Sobanga Village, Bengkalis Regency, Riau Province.
"With the development of this downstream industry, we hope to increase our revenues," Usli said.
Then, about 40 percent of the proceeds from the IPO will be used for working capital to Subsidiaries, namely PT Mutiara Unggul Lestari, PT Berlian lnti Mekar and PT Sejati Sejati Andalan.
In this corporate action, the company appointed PT Panin Sekuritas Tbk as the Underwriter. It is anticipated that this plan will receive effective statement on June 29, 2018, so that the Public Offering Period can be executed on July 3-9, 2018.
"We hope the company's shares can be listed on the Indonesia Stock Exchange on July 12, 2018," he concluded.