JAKARTA - PT Optima Prima Metal Sinergi Tbk (OPMS) obtained Rp 54 billion during its Initial Public Offering (IPO) period on 13-16 September 2019. In the corporate action, the company released 400 million new shares at a price of Rp 135 per share.
President Director of PT Optima Prima Metal Sinergi Tbk (OPMS), Meilyna Widjaja said that the IPO funds would be used to purchase used ships, which then will be scrapped and sold as scrap metal.
"We are grateful to all parties involved in the operation to list OPMS in the exchange today. With the funds obtained from the public through the IPO mechanism, we can further strengthen the company's business fundamentals in providing quality steel and iron raw materials," he said while witnessing the initial listing of OPMS shares on the IDX as quoted in a press release.
According to him, the scrap metal industry, which has just been run since 2018, has a competitive advantage. It has a good due diligence process, starting from the legal, financial and operational aspects.
OPMS has Rp 81.6 billion worth of assets as of 30 April 2019, higher than Rp 69.4 billion recorded in 31 December 2018. The company's profit was recorded at 2.13 billion as of 30 April 2019. While in the same period in 2018, the company lost Rp 370.4 million. Sales reached Rp 35.2 billion as of 30 April 2019, 44.2% higher than its record in the same period in the previous year of Rp 24.4 billion. (LK/AR)