JAKARTA. PT Chemstar Indonesia Tbk (CHEM), a chemical ingredient manufacturer established circa 2004, will kick off its Initial Public Offering (IPO) in Indonesia Stock Exchange.
The number of shares of CHEM to be offered in IPO clock up to 500 million shares. Each share has a face value of IDR 25, but will be offered for a price ranging from IDR 150 to IDR 190 each.
“The total value of the publicly offered shares reached IDR 95 billion at max,” the management of CHEM confirmed the amount in the IPO prospectus.
The bookbuilding phase of CHEM’s shares will last until tomorrow (23/6), followed by the IPO main event on July 4-6, 2022. Then, the listing of those shares in Indonesia Stock Exchange will take place on July 8, 2022.
In the future, CHEM will allocate approximately 27.86% of IPO proceeds to the capital expenditure budget, intending to acquire land and building that is currently utilised as a factory and office. Then, the remaining 72.14% will be channelled to the working capital.
As of December 31, 2022, CHEM possessed total assets of IDR 90.6 billion. Furthermore, throughout 2021, the company recorded sales of IDR 89.62 billion, successfully collecting IDR 12.9 billion of net profit at the end. (KR/ZH)