23 June 2018

JAKARTA, NNC - PT Mahkota Group Tbk plans to conduct an Initial Public Offering (IPO) of as many as 703,688,000 Ordinary Shares or as much as 20 percent of the total Issued and Fully Paid-up Capital after the implementation of the IPO .

The shares with a nominal value of IDR 100 per share will be sold at a price in the range of IDR 200 to IDR 250 for each share offered. This was conveyed by the President Director of Mahkota Group, Usli in the company ​ IPO  public exposure in Jakarta, Friday (6/22/2018).

He 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 Subsidiary of the Company), namely PT lntan Sejati Andalan which will be used for the construction of a Refinery plant and Kernel Crushing Plant located on Duri Dumai road, Bathin Sobanga Village, Bengkalis Regency, Riau Province.

He explained that the construction of the factory took 8 months, starting 3 months after the Company received the proceeds from the Initial Public Offering.

The purpose of the Refinery and Kernel Crushing Plant is to add value to the company. The Refinery and Kernel Crushing Plant allows the company to carry out a refining system that can produce olein (edible oil) and sterin (raw materials for margarine and oleochemicals) derivatives as well as other derivative products.

“With the development of this downstream industry, we hope to increase the Company's revenue,” said Usli.

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.

The company is optimistic about the growth prospects of oil palm plantations. Usli said that oil palm plantations are the highest oil-producing crop per hectare of all other types of vegetable oil.

In higher oil-producing countries, the average yield of oil palm is about four tons of oil per hectare per year, more than two times the oil production per hectare obtained from rapeseed and four times the oil production per hectare obtained from soybean and sunflower seeds.

In this corporate action, the company appointed PT Panin Sekuritas Tbk as the company's Underwriter. 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.

“We hope that the company's shares can be listed on the Indonesia Stock Exchange on July 12, 2018,” he concluded.

Reporter : Irawan Hadi Prayitno

Editor : Wulandari Saptono

Source : http://www.netralnews.com/news/ekonomi/read/147805/mahkota-group-jual-703-688-juta-saham-ke-publik-harga-di-kisaran-rp200-250