JAKARTA. PT Oscar Mitra Sukses Sejahtera Tbk (OLIV), a furniture company branded as Oscar Living, will launch its initial public offering (IPO), issuing 400 million shares.
The total shares offered in its debut are equivalent to 21.10% of OLIV’s entire issued and paid-up capital after the said public offering. Each new share is worth IDR 10 and will be put on the market for IDR 100-125 each. Therefore, the company might raise fresh funds of up to IDR 50 billion in this corporate action.
OLIV has assigned PT Danatama Makmur Sekuritas as the lead underwriter. The bookbuilding phase starts from April 4 to 14, 2022, followed by the main event of the IPO on April 22-27, 2022. Lastly, the shares will be recorded on Indonesia Stock Exchange (IDX) on April 29, 2022.
In the released prospectus, OLIV plans to allocate the entire proceeds of the IPO to the capital and operational expenditures. Specifically, 11.78% of them will be channelled to the capital expenditure, intending to renovate the warehouse and enhance its own fleet. Then, the 88.22% of them will go to the company’s working capital.
As of October 31, 2021, OLIV owns total assets of IDR 29.07 billion and total equity of IDR 16.78 billion. Its sales from January to October 2021 reportedly reached IDR 39.39 billion, contrasting to its net profit that only arrived at IDR 525.08 million. (KR/ZH)