​ 22 June 2018

Jakarta, Gatra.com - PT Mahkota Group Tbk is ready to list on the Indonesia Stock Exchange (IDX). The company engaged in the oil palm plantation sector offers an Initial Public Offering (IPO) price in the range of IDR 200-250 per share. President Director of PT Mahkota Group Tbk, Usli said that in this corporate action the company offered as many as 703,688,000 shares or equivalent to 20% of the company's issued and fully paid capital through an IPO.

“Around 60% of the IPO proceeds will be allocated for the development of the downstream palm oil industry and the remaining 40% to finance the working capital of subsidiaries,” he said in Jakarta, Friday (22/6).

According to Usli, the development of the downstream palm oil industry was carried out through investment in the company's subsidiary, PT Mutiara Unggul Lestari (MUL). By MUL, this investment is channeled to its subsidiary, PT Intan Sejati Andalan (ISA).

“Later, the IPO funds by PT Intan Sejati Andalan will be used to finance the construction of a refinery plant and Kernel Crushing Plant on the Duri-Dumai Road, Bathin Sobaga Village, Bengkalis Regency, Riau Province,” he explained.

Usli added that the construction of the factory will take eight months, starting three months after the company received the IPO proceeds, which will add value to the company.

“Through the establishment of the plant, the company can refine crude palm oil into olein (edible oil) and stearin (raw material for margarine and oleochemicals) as well as other derivative products,” Usli said.

The company appointed PT Panin Sekuritas Tbk as the underwriter. The shares offered to the public will be listed and traded for the first time (listing) on the Indonesia Stock Exchange on July 12, 2018.

Source :  https://www.gatra.com/rubrik/ekonomi/bursa/328206-kembangkan-industri-hilir-perusahaan-kelapa-sawit-ini-siap-melantai-di-bei