JAKARTA – The demand for PT Ladang Baja Murni Tbk’s (LABA) shares exceeds the available portion in share pools (oversubscription) 300 times throughout its IPO last week (2-4/6). Mughi, the President Director of LABA, reveals this gain during the initial recording of share in Indonesia Stock Exchange (IDX) Thursday (10/6).
“We are optimistic about expanding our business as moulding, steel-derivatives spare parts, and plastic injection moulding industries growth opportunities are still wide open,” Mughi adds.
LABA offered 200 million shares worth IDR 125 each in its IPO. The total funds gathered from the corporate action reached IDR 25 billion, which had been spent on renovating and machine maintenance in the new building of LABA in Cibitung, West Java.
LABA appointed PT Indo Capital Sekuritas as the lead underwriter in its IPO. It also assigned PT Panin Sekuritas Indonesia Tbk and PT Reliance Indonesia Tbk as the syndicate members. In this event, the investors who own five new shares would obtain seven warrants. (LK/ZH)