Widodo Makmur Perkasa expects to gain IDR 707 billion from IPO
JAKARTA. The holding company of Widodo Makmur group, PT Widodo Makmur Perkasa Tbk, sets the execution price for its initial public offering (IPO) to IDR 160 per share. By issuing 4.41 billion shares, the company could potentially secure funds of up to IDR 70.04 billion.
In the published prospectus today (29/11), the management of the said animal butchery and feeds company stated its plan to use 11.50% of IPO proceeds to fund the operational cooperation of the construction of an export yard, its logistics, and animal slaughterhouse in Australia with its local partner.
Meanwhile, another 19% would be spent on funding the establishment of an integrated farm and corn plantation in Sumatra, Sulawesi, and Papua. Then, another 19% would be saved for the company’s subsidiaries’ capitals. Lastly, 50.50% of the proceeds would be channelled to the company’s working capital.
The public offering period is set from November 30 to December 2, 2021, while the allotment date falls on December 2, 2021. The electronic distribution of the shares will follow on December 3, 2021, preceding the recording scheduled for December 6, 2021. The company assigns PT BRI Danareksa Sekuritas, PT CIMB Niaga Sekuritas, PT Surya Fajar Sekuritas, and PT Mirae Asset Sekuritas Indonesia as the executive underwriters, while the underwriter would be PT Samuel Sekuritas Indonesia, PT Valbury Sekuritas Indonesia, and PT Yulie Sekuritas Indonesia Tbk. (AM/ZH)