Jakarta (TheInsiderStories) – Indonesian mining company PT Trinitan Metals and Minerals Tbk and property developer PT Nusantara Almazia Tbk plan to hold an initial public offering (IPO) soon, said the two companies on Tuesday (09/03). The total proceeds of the IPO is estimating Rp201.53 billion (US$14.19 million).
Trinitan plans to releasing 333 million shares or 25 percent of the issued and paid up capital with indicative price of Rp270 (US$0.19) to Rp300 a share. Its expected, the miner obtained around Rp100 billion from the IPO.
In this IPO, the company helped by PT Mirae Sekuritas. Trinitan will conduct a book-building from August 30 to Sept. 10 and listing at the Indonesia Stock Exchange (IDX) on Oct. 4. The company also issued 333 million warrants or 33.33 percent of the total number of company shares.
The CEO Richard Tandiono explained the funds from the IPO will be used for capital expenditure and working capital. The miner aims to rise the capacity the existing capacity to almost double and adding an equipment in production areas in Gunung Putri, Bogor also build a green smelter mining plant in Sulawesi.
Trinitan was established in 2009 focused in a metal processor and smelter. At present, the company’ products have been used by companies engaged in the battery manufacturing industry by 71.1 percent, the antimony trioxide manufacturing industry by 11.9 percent, the metals processing or smelter industry by 7.3 percent, the solder industry by 4.7 percent, and the defense industry 5.2 percent.
Products have been marketed around 56 percent in the local market and 44 percent are exported to several countries such as Malaysia, Thailand, Korea, Japan, China and Fiji.
Furthermore, Nusantara Almazia offers 461.53 million shares or 21 percent of the issued and paid up capital shares. The company set an offer price of Rp200 to Rp220 per share to raise funds up to Rp101.53 billion.
According to the CEO, Deddy Indrasetiawan, the lPO’ funds would be used to acquire 68 percent of PT Serena Inti Sejati, a property developer in Karawang regency, West Java. The company aimed to build a 5,800 houses in the area of 60 hectares land.
Nusantara Almaiza picked PT Sinarmas Sekuritas as the underwriter for the IPO. According to the plan, the company will hold a book building on Sept. 3 – 5 and list the shares on Sept. 25.
Until the end of May 2019, the company managed to record net sales of Rp12 billion, lower by 49 percent compared to the same period in the previous year of Rp23.94 billion. While the profitability increased to Rp3.9 billion from Rp35 million in the previous period.
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