JAKARTA. PT Wahana Inti Makmur Tbk (NASI), a rice manufacturer and distributor, would begin its initial public offering (IPO) to raise fresh funds of IDR 31 billion at most.
Based on the released prospectus, the total shares issued by NASI in its IPO amount to 200 million shares. These are equal to 24.77% of the company’s issued and paid-up capital. Each new share is worth IDR 50 in face value and would be offered for IDR 155 per share.
The management would allocate 10% of the IPO proceeds to purchase vehicles to support its operation. Then, another 3% would be channelled to cover the whole payment for a land purchase, which would be utilised as the location of a rice storage facility in Subang. Lastly, 12% of the proceeds would be used to build the warehouse, while the rest of them would go to the company’s working capital.
As of December 6, 2021, 40.68% of NASI are under the control of PT Modis Cipta Kreasi. PT Wahana Kreasi Investama owns 3.01%, while Piero Mustafa (President Director) has 56.14%, and Tjiu Lanny Idayani (President Commissioner) claims 0.17%.
NASI’s total assets reached IDR 44.02 billion by the end of June 2021. Meanwhile, its sales throughout the first half of 2021 were reportedly IDR 22.58 billion, while its net profit arrived at IDR 363 million. (KR/ZH)