JAKARTA - PT Era Mandiri Cemerlang Tbk (IKAN) obtained Rp 39.99 billion from its initial public offering (IPO) which was held on 3-5 February 2020. The company issued 333.33 million new shares at a price of Rp 120 per share.
As quoted from a press release received by IDNF on Wednesday (12/2), the funds from the IPO will be used to buy cold storage equipment and also as the company's working capital. The equipment will be placed in Gorontalo and Jakarta. Other locations being considered are Aceh and Kupang.
The company's management is optimistic that it can increase exports to a number of countries, including the United States, Mexico, Ecuador, Germany, the Netherlands, Poland, India, China, Hong Kong, and the Philippines. (LK/AR)