JAKARTA. PT Black Diamond Resources Tbk (COAL) sets the execution price of the initial public offering (IPO) to IDR 100 per share, arriving exactly at the lowest of the price range mentioned during the book building phase.
The number of shares offered to the public by COAL in this corporate action is 1.25 billion units worth IDR 10 each. Cumulatively, it is equal to approximately 20% of COAL’s issued and paid-up capital post-IPO.
With said price to be exercised, COAL estimates proceeds of IDR 125 billion at the end of the IPO. As mentioned in the prospectus, the company will channel the entire proceeds to the working capital of its subsidiary, PT Dayak Membangun Pratama (DMP).
The public offering period of COAL will last from September 1 to 5, 2022. The electronic distribution of shares will take place on September 6, 2022, followed by the listing on Indonesia Stock Exchange on September 7, 2022.
Until April 30, 2022, COAL recorded total assets of IDR 368.11 billion and total equity of IDR 118.54 billion. (KR/ZH)