JAKARTA. The bookbuilding stage of PT RMK Energy Tbk finally led the company to set the execution price for the initial public offering (IPO) to IDR 206 per share. By issuing 875 million shares, the potential funds to be raised in this corporate action amount to IDR 180.25 billion.
During the bookbuilding phase of this future coal mining service issuer, the demand price was within the range of IDR 160 to 230 per share. “Considering the preliminary offering outcome, and based on the agreement between the underwriters and the company, it was decided that the offering price would be IDR 206 per share,” the management of RMK Energy disclosed in the additional section of its prospectus released in the media today (30/11).
In this IPO, RMK Energy would issue 875 million shares, equal to 20% of the issued and paid-up capital. Thus, by the end of this corporate action, the company could gain IDR 180.25 billion.
The entire proceeds of the IPO, subtracted by the emission fees, would be spent on covering the payment for the conveyor line upgrade, from a single line to double lines, worth IDR 67.87 billion. It also includes the purchase and assembly of the stacker conveyor for PT Rantaimulia Kencana to support the main business activity of the company. Then, another IDR 50 billion would be used to pay the debt principal owed to PT Bintang Timur Kapital. Lastly, the remaining would be used as the working capital, buying fuels, lubricants, spare parts, and maintenance purposes.
The important dates regarding this upcoming IPO have also been disclosed. The effective date falls on November 26, 2021, the public offering period from November 30 to December 3, 2021, and the allotment date would be on December 3, 2021. The electronic distribution would take place on December 6, 2021, followed by the recording in the stock exchange on December 7, 2021. (AM/ZH)