HomeNewsVideos

Entering IDX, KKES eyes IDR 31.5 billion

05 August 2022 11:57

JAKARTA – PT Kusuma Kemindo Kencana Tbk (KKES), a chemical product distributor, aims to score IDR 31.5 billion of fresh funds by issuing 300 million shares in its initial public offering (IPO), which took place on August 2-4, 2022.

In the short prospectus quoted Friday (5/8), the number of shares issued in IPO is said to equal 30% of KKES’s issued and paid-up capital post-IPO. For the record, the management set the offering price to IDR 105 per share.

Approximately 95% of the IPO proceeds will be channelled to the working capital, 30% of which will be advanced as funding for operational activities, while another 65% will be channelled to suppliers as its loan repayment. Then, the remaining 5% of the IPO proceeds will be used to digitalise the system, including sales delivery, inventory, and logistic systems.

Prior to this corporate action, KKES’s authorised capital was set to IDR 40 billion, while its issued and paid-up capital clocked up to IDR 12 billion. PT Catur Sentosa Adiprana Tbk (CSAP) was listed as the owner of 51% of the shares, while PT Budilestari Sentosa secured another 14%. Retno Widyati Harsono came next with 3.36%, followed by Flicia Wiendraty Hardono with 3.32%, Kundy Wijaya of 10%, Sri Lanty Totong of 5%, and Kiki Rusmin Sadrach of 13.32%. (LK/ZH)

© 2024 - IDN Financials - All Rights Reserved.