JAKARTA. PT Ulima Nitra Tbk, a mining service company from South Sumatra with assets of IDR 539.7 billion, will raise funds of up to IDR 35.4 billion from an initial public offering or IPO next week.
According to an official letter signed by the Director of the Indonesian Central Securities Depository (KSEI) Syafruddin, Ulima Nitra has registered 300 million units of shares in collective custody. All of these share units have a nominal value of IDR 2 per share and an offering price of IDR 118 per share.
The public offering period for Ulima Nitra's shares will take place on March 2-4, 2021. Electronic distribution of shares will be carried out on March 5, 2021 and listing of shares on the Indonesia Stock Exchange on March 8, 2021.
As reported by idnfinancials.com in mid-February 2021, the total shares to be offered by Ulima Nitra are in accordance with the initial plan, namely 9.56% of the issued and fully paid shares. Of the total shares offered, 9.63 million shares or 3.21% are shares that will be allocated to employees or ESA.
Ulima Nitra appointed PT Surya Fajar Sekuritas as the underwriter. In the IPO prospectus, Ulima Nitra will use all the proceeds from the IPO for working capital and business expansion.
For information, Ulima Nitra will also issue new shares worth IDR 40 billion, in the context of converting debt into shares for PT Surya Fajar Corpora (SFC). According to idnfinancials.com data, Surya Fajar Corpora is the controlling shareholder of PT Surya Fajar Capital Tbk (SFAN). (KR/LM)