JAKARTA. PT Oscar Mitra Sukses Sejahtera Tbk (OLIV), a furniture manufacturer with total assets of IDR 29.07 billion, has fixed the price of the shares to be issued in its initial public offering (IPO) to IDR 100 per share.
This offering price matches the lower limit of the stock price mentioned by OLIV during the bookbuilding phase on April 4, 2022. With this price rate, the company, infamously known for its Oscar Living brand, potentially raises fresh funds of IDR 40 billion.
For the record, shares offered by OLIV in this upcoming IPO amount to 400 million units, equivalent to 21.10% of its paid-up capital. In the future, 11.78% of the proceeds gained from the IPO will be allocated to the capital expenditure, renovating the warehouse and solidifying the trading network. Meanwhile, another 88.2% will be channelled to its working capital.
OLIV’s public offering period will start from May 9 to 12, 2022. Meanwhile, the stock allotment will take place on May 12, 2022, followed by the distribution on May 13, 2022, and the recording on Indonesia Stock Exchange (IDX) on May 17, 2022.
On top of issuing new shares, OLIV also issues Series I warrants of 400 milion units. These will be distributed as incentives for new shareholders who have their names recorded on the public allotment list by May 12, 2022. (KR/ZH)