JAKARTA - PT Widodo Makmur Unggas Tbk (WMU) will conduct an initial public offering (IPO) this month. In the company's public expose event today (6/1), Ali Mas'adi, the President Director of WMU, said that the company will release 5,923,076,900 new shares to the public, equivalent to 35% of the total issued and paid-up capital after the IPO.
The IPO price offered ranges from Rp 142 to Rp 200 per share. In addition, WMU also implemented an employee stock allocation program of 7.5% of the total IPO shares. The company also provides a share ownership option by management (MSOP) of up to 1% of the IPO portfolio.
Ali Mas'adi said that the Company will use 74.3% of IPO proceeds for expansion by adding and expanding production facilities, including for the construction of the PS Farm Breeding facility in Gunungkidul Regency, Yogyakarta Special Region Province. Construction of the Layer Commercial Farm facility in Klaten Regency, Central Java Province. Construction of Hatchery facilities in Sukabumi Regency, Java Province. Construction of a Commerical Farm Broiler facility in Wonogiri Regency, Java Province. Construction of Slaughterhouse facilities in Cianjur Regency, West Java Province. Construction of a Feedmill facility in Ngawi Regency, East Java Province.
The remaining 25.7% of IPO proceeds will be used for the Company's working capital, especially for the purchase of raw materials at the Feedmill and the purchase of Commercial Broiler Chickens for Slaughterhouse. The increase in production capacity will have an impact on better market penetration in the future. (LM)