After completing bookbuilding, KLIN ready for stock market debut on August 9th

02 August 2022 10:11

JAKARTA - After the book building period ended, PT Klinko Karya Imaji Tbk. (KLIN) announced the results of the bookbuilding which took place on July 20-25, 2022. KLIN's President Director Anggun Supanji said that during the bookbuilding process, KLIN noted that there was an excess of 150% or 1.5 times oversubscribed. “Until the closing day of the offer, the enthusiasm of investors was quite high. We really appreciate this, because it means that more people are interested in investing in companies that promote a green environment like KLIN,” he said.

The Company has received effective approval from the Financial Services Authority (OJK) to carry out an initial public offering of shares starting on August 2-5, 2022, and listing on the Indonesia Stock Exchange on August 9, 2022. The company with ticker code KLIN is registered as a Sharia Securities, because until now KLIN has no corporate debt.

According to Anggun, the high public interest in KLIN's shares shows public confidence in the company. "This certainly spurs our enthusiasm to continue to make a positive contribution to the nation, through innovation and strengthening the company's long-term strategy," said Anggun.

During the book building, KLIN offered a share offering price with a price range of Rp90 - Rp100. After the closing of the initial offering, KLIN and the Underwriter set the share offering price of Rp100.

This environmentally friendly cleaning equipment manufacturer from Gresik, East Java is eyeing Rp 23 billion from the IPO. The funds will be used mostly to support the company's operations to working capital. The reason is that the company is now increasingly taking steps to expand the domestic and global market. Through the private label scheme, KLIN has penetrated the export market to seven countries in Southeast Asia, the United States, Europe, Africa, and Latin America. (LM)

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