TRGU - PT. Cerestar Indonesia Tbk

Rp 216

0 (0%)

JAKARTA - Wheat flour manufacturer PT Cerestar Indonesia Tbk aims to raise a maximum of Rp 315 billion through an initial public offering or IPO. The shares are offered at the price of Rp 210 per share. The number of shares offered is a maximum of 1.5 billion or 18.88% of the Company's total paidup capital after the IPO.

The proceeds from the IPO will be injected as additional capital into the Company's subsidiaries, namely PT Harvestar Flour Mills (HFM) and PT Agristar Grain Industry (AGY), and employed as follows: 

  • About 46.67% of the proceeds will be used to purchase new machinery to increase HFM's production capacity by 600 MT/day, 

  • About 20.00% of the proceeds will be used to purchase land in Gresik Industrial Estate for the construction of HFM's additional supporting facilities, 

  • About 33.33% of the proceeds will be used to build AGY's warehousing and packing facilities in Cilegon

After the IPO process, starting from 2023, the Company plans to pay a dividend to shareholders up to 20.00% of the 2022 fiscal year's net profit. This plan will be implemented without neglecting the Company's financial soundness and without prejudice to the General Meeting of Shareholders' (GMS) rights to determine otherwise per the Articles of Association of the Company. 

In this initial public offering process, the Company appoints PT Semesta Indovest Sekuritas as the underwriter for the issuance of securities. (LM)