05 July 2018

MATATELINGA, Medan : Very careful planning that has been carried out by shareholders and discussions with employees, PT Mahkota Group Tbk finally succeeded in holding an Initial Public Offering (IPO) or Initial Public Offering by holding a Due Diligence Meeting and Public Expose in Medan, Wednesday (4/7).

The Initial Public Offering amounted to 703,688,000 shares of common stock, or as much as 20% of the total Issued and Fully Paid Capital, with an offering price of IDR 225 per share. With the hope that the IPO proceeds will be utilized for future business development.

The IPO of PT Mahkota Group Tbk will take place from July 3 - 9, 2018, share allocation will be carried out July 10, 2018, then July 12, 2018 will be listed on the Indonesia Stock Exchange with the code “MGRO”. The stock market is expected to be purchased more by the people of North Sumatra, then PT.Panin Sekuritas customers in a number of branches.

President Director of PT Mahkota Group Tbk, Usli, said as much as 60% of the IPO proceeds will be used for the development of downstream industries, such as the construction of a Refinery plant (80% cooking oil and 20% other derivative products), then Kernel Crushing Plant (palm kernel factory), while the remaining 40% will be used for working capital to subsidiaries.

“The downstream industrial plant will be built starting three months after the company receives the IPO proceeds. It takes 8 months to build a downstream industrial plant, which means that approximately in October 2019 it will be ready for operations,” Usli told a number of media.

In detail, Usli explained that the development of the downstream industry will have a positive impact and added value for the company. With the plant, the company can carry out a refining system and produce olein (cooking oil) and sterin (raw material for margarine and oleochemicals) derivative products and other derivative products.
“This downstream industry will also create jobs for people who want to get a job,” he said.

Usli, accompanied by Development Director Usman Sarsi, Operations Director Fuad Halimoen, Independent Director Nagian Toni, President Commissioner Mily, Commissioner Lily, Independent Commissioner Harry Kurniawan, said that the price of CPO derivative products such as cooking oil is relatively stable compared to the fluctuating CPO price.
“Moreover, 60% of the raw materials for this downstream industry can be supported by ourselves from our 6 palm oil mills (PKS), of which 4 PKS in Riau, 1 PKS in Tebing Tinggi and 1 PKS in the Rantauprapat area, the rest is supplied by the community and other companies. Moreover, we have 26 units of stockpile tanks in Dumai with a capacity of 76,000 tons, “he said.

At the IPO event of PT Mahkota Group Tbk which was held at the Grand Ballroom of JW Marriot Hotel Medan, the community and invitees who attended the event were very enthusiastic. Also present on the occasion were Director of PT Panin Sekuritas Prama Nugraha and Branch Manager of PT Panin Sekuritas Medan Darmin SE MBA CIMBA, Head of the Indonesia Stock Exchange (IDX) Medan Representative Office Muhammad Pintor Nasution.

Editor: James P Pardede

Source : http://matatelinga.com/Ekonomi/Pasca-IPO--Mahkota-Group-Segera-Bangun-industri-hilir/