JAKARTA - PT Wahana Interfood Nusantara will soon list its shares on the Indonesia Stock Exchange (IDX) on 20 March. The plan, the company with the COCO stock code will release 168 million new shares with a nominal value of Rp 100 per share, equivalent to 33.07% of the total issued and fully paid capital.
The IPO price has been set at Rp 198 per share and the company expect to raise funds up to Rp 33 billion. Around 23.03% of the IPO funds will be used to purchase a land 6,280 m2 in Sumedang, West Java.
Then, around 15.81% of the funds will be used for down payments to contractors for the construction of a factory in Sumedang. The plant will begin construction in June. Then 61.16% of the funds will be used as a down payment to buy three new machinery units for production. The total investment for the units is estimated to be around Rp 18.56 billion.
For information, the chocolate-producing company has appointed UOB Kay Hian Sekuritas as the underwriter for IPO. (LM)