JAKARTA. PT OBM Drilchem Tbk (OBMD), a manufacturer of additives used in drilling, would commence its initial public offering (IPO) in Indonesia Stock Exchange (IDX) to raise fresh funds of IDR 32.76 billion.
Based on the released prospectus, the total shares of OBDM issued to public investors reach 182 million units. They are equivalent to 24.86% of the entire issued and paid-up capital of the company. Each share is worth IDR 50 and would be offered for IDR 150 to 130 per share.
The management of OBMD would allocate the entire IPO proceeds to buy raw materials. The materials in question include powdered cellulose fibre and calcium carbonate. The purchase is intended to cover the upcoming contracts obtained by the company in the future.
To provide more details, PT Indotek Drilling Solusi is reported to be the controlling shareholder of OBMD, owning 74.84% of the shares as of October 25, 2021. Another 12.5% is claimed by Mohamad As’ad, while Ryanto Husodo takes another 12.58%.
The public offering period is scheduled for November 2-6, 2021, while the electronic distribution of the shares will follow on December 7, 2021. Then, the recording in Indonesia Stock Exchange (IDX) will take place on December 8, 2021.
OBMD has appointed PT KGI Sekuritas Indonesia as the executive underwriter for its IPO, while other underwriters will soon be announced. (KR/ZH)