JAKARTA – PT Bersama Zatta Haya Tbk (ZATA) officially made its debut by issuing 1.7 billion shares for IDR 100 each in Indonesia Stock Exchange (IDX). Throughout the public offering last week, from November 2 to 8, 2022, this modest fashion manufacturer managed to raise IDR 170 billion of fresh funds.
Elidawati, President Director of ZATA, mentioned that the IPO proceeds will be used to settle obligations with banks, expand its outlets, and enhance its working capital. “Approximately 13.4% will be used to pay all obligations owed to PT Bank Raya Indonesia Tbk (AGRO),” she specified further in the press release earlier today (10/11).
On the other hand, Elidawati plans to allocate IDR 81.24 billion or 47.79% of the IPO proceeds to open up several new stores, while at the same time, spending IDR 67.66 billion or 39.8% of the proceeds on purchasing raw materials and supporting operational activities of the company.
ZATA focuses in modest fashion sector through two of its subsidiaries, PT Bersama Zatta Mulya (BZM) or Elzatta and PT Bersama Dauky Mulya (BDM) or Dauky.
This company is highly confident in its modest fashion niche as the household expenditure for clothes and footwear is estimated to rise to IDR 469.3 trillion in 2026. (LK/ZH)