JAKARTA. PT Archi Indonesia Tbk (ARCI) is officially listed on Indonesia Stock Exchange (IDX) today. It ended its public offering last week, receiving more purchase demand than the number of shares available.
Rudy Suhendra, the Vice President Director of ARCI, explains that an oversubscription of shares is a positive indicator for companies in the Indonesian stock market. “We are deeply grateful for the trust given by all involved parties that had helped the company to launch its IPO,” Suhendra tells idnfinancials.com earlier today (28/6).
ARCI appointed several securities companies as the underwriters. They are PT Citigroup Sekuritas Indonesia, PT Credit Suisse Sekuritas Indonesia, PT Mandiri Sekuritas, PT BNI Sekuritas, and PT UOB Kay Hian Sekuritas.
As mentioned in idnfinancials.com, ARCI plans to allocate most of the IPO funds, estimated to reach IDR 2.79 trillion, to cover its debt. The remaining amount would be stored as additional working capital.
The said working capital would subsequently be used to support the plan of exploration to seek other gold mines. Furthermore, it would be used to increase ARCI’s production capacity. (KR/ZH)