JAKARTA – PT Surya Biru Murni Acetylene Tbk (SBMA), a company operating in the inorganic chemistry sector, aims to gain IDR 50.11 billion through its initial public offering of 278.4 million shares. Half of the proceeds would be spent on purchasing land from an affiliate. The IPO took place last week (2/9) and recently ended yesterday (6/9). The recording would then be posted on the stock exchange on Wednesday (8/9).
Quoting its prospectus on Tuesday (7/9), 49.01% of the raised funds would be used to acquire a 20,503 m2 land from Effendi, President Commissioner of SBMA. Then, another 37% would be allocated to upgrade factories, while 13.99% of it would be channelled to the working capital, funding distribution, factory overhead costs, and production costs.
During its IPO, SBMA offered 278.4 million shares. They equal 29.99% of its entire issued and paid-up capital. The face value was reported to be IDR 100 each, and the execution price was set to IDR 180 per share. Additionally, the company also issued 46.6 million Series I Warrants. This time, it equals 7.14% of the entire issued and paid-up capital recorded by the registration date. The price was set to IDR 230 per warrant, while the execution would take place from March 8 to September 7, 2022. Its total value amounts to IDR 10.67 billion.
Currently, SBMA’s authorised capital is reported to reach IDR 260 billion. Its issued and paid-up capital totals IDR 92.85 billion, while the stock in portfolio carries IDR 167.14 billion in value. PT Surya Biru Titilea Investama claims 90% ownership, and Tiffany Wei claims the remaining 10%. After the IPO, their portions would change. PT Surya Biru Titilea Investama would be left with 63.01%, Tiffany Wei 7%, while the public shares 29.99%. (LK/ZH)