JAKARTA - PT Trimitra Prawara Goldland Tbk started its initial public offering (IPO) from December 2-4, 2020 and will list its shares on Indonesia Stock Exchange (IDX) on December 11, 2020.
This property company, with total assets of IDR 91.3 billion, has set an IPO share offering price of IDR 100 per share. Meanwhile, the number of shares to be offered is 250 million units. Thus, this corporate action is estimated to be able to raise fresh funds as much as IDR 25 billion.
According to the collective custody letter at the Indonesian Central Securities Depository (KSEI), Trimitra Prawara appointed PT KGI Sekuritas Indonesia as the underwriter to carry out the IPO. Then, 5 securities companies were appointed as underwriters, namely PT Reliance Sekuritas Tbk (RELI), PT Panin Sekuritas Tbk (PANS), PT Artha Sekuritas Indonesia, PT Profindo Sekuritas, and PT Erdhika Elit Sekuritas.
As reported by idnfinancials.com, Trimitra Prawara had been operating since 2015, with issued and fully paid capital worth IDR 5 billion. Currently, after increasing their capital 2 times, the issued and paid-up capital has reached IDR 40 billion.
For information, Trimitra Prawara's income during the first semester of 2020 dropped 70.24% year-on-year (yoy) to IDR 17.9 billion. Meanwhile, the net profit decreased 90.42% yoy to IDR 1.27 billion. This decline, according to management, was due to the weakening property market in Indonesia during Covid-19 pandemic. (KR/VA)