JAKARTA - PT Sumber Global Energy Tbk. (SGER) will allocate 84% (Rp 45 billion) of its IPO proceeds as capital. This was stated in SGER's IPO prospectus published on Wednesday (26/8).
In the IPO, which took place last week, SGER listed 1,664 million shares on the Indonesia Stock Exchange (IDX), consisting of 1,164 million founder stocks and 500 million shares offered to the public at an exercise price of Rp 108 per share. SGER hopes to raise Rp 54 billion from the IPO, Rp 45 billion of which will be used as working capital to fulfil its contracts, and the rest will be used to provide working capital loans to PT Suryamica (SCMA), SGER's indirect subsidiary.
In the IPO, SGER also issued 400 million Series I Warrants, representing 34.36% of the company's total issued and paid-up shares.
After the IPO, the total number of the company's shares rose to 2,336 million, with PT Sumbermas Inti Energi as the controlling shareholder (54.93%). (LK/AR)