12 July 2018

Jakarta: PT Mahkota Group Tbk will realize its listing or initial public offering (IPO) on the Indonesia Stock Exchange (IDX) this morning. The company will release 703.68 million shares in the price range of IDR 200-250 per share.

This IPO process will be carried out to coincide with the opening of stock trading in the Indonesian capital market, IDX, Jakarta, Thursday, July 12, 2018.

Based on Medcom.id records, from this IPO, the company estimates that it will reap fresh funds of around IDR 140.73 billion to IDR 175.92 billion. The company has also appointed PT Panin Sekuritas as the underwriter.

President Director of Mahkota Group Usli Sarsi previously said that the IPO funds obtained by the company after being paid for emissions, 60 percent will be used for the development of the downstream industry through investment in the subsidiary of PT Mutiara Unggul Lestari (MUL), namely PT lntan Sejati Andalan (ISA 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. As well as financing the working capital of subsidiaries.

Usli admitted that the construction of the factory carried out by the company took eight months, starting three months after the company received the IPO proceeds. The purpose of building the Refinery and Kernel Crushing Plant is to provide added value to the company.

Through the construction of the Refinery and Kernel Crushing Plant, the company can carry out a refining system that can produce olein (edible oil) and sterin (margarine and oleochemical raw materials) derivatives, as well as other derivative products.

“With the development of this downstream industry, we hope to increase revenue,” Usli explained some time ago.

Source : http://news.metrotvnews.com/read/2018/07/12/900283/ipo-mahkota-group-listing-pagi-ini