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Debut di BEI, Saham OLIV Sempat Sentuh ARA 10% Lalu Stagnan

Jakarta, CNBC Indonesia - Online furniture issuer PT Oscar Mitra Sukses Sejahtera Tbk (OLIV) or Oscar Living officially listed its shares on the Indonesia Stock Exchange (IDX) and became the 20th issuer this year, Tuesday (17/5/2022).

OLIV shares are listed on the IDX acceleration board. OLIV shares opened in the green shortly after the opening trade.

The shares of the issuer with the code OLIV touched the top auto reject (ARA) up 10% or 10 points to the level of Rp 110 per share at 09.54 WIB.

However, at 10.50 WIB, OLIV shares were stagnant at the level of Rp 100 per unit. In trading this morning, OLIV shares are traded in the price range of Rp 100 - Rp 110.

In his remarks at today's market opening, OLIV's Director of Operations, Stephani Andiriana Suhanda said this listing was an opportunity for Oscar Living to strengthen its publicly supported capital structure.

"With this support, we will reach customers throughout the archipelago and offer useful products so that they contribute to nation building," concluded Stephani.

As an online-based furniture company through the current marketplace platform, the Company has succeeded in changing the habits of the Indonesian people to shop for "High Touch" products online.

Oscar Living will continue to add various new products, both brands and sub-categories such as Laundry & Cleaning, Baby Furniture, Plastic Furniture to complete the company's portfolio so as to increase sales.

In 1984, PT Oscar Mitra Sukses Sejahtera Tbk started its business as a Trading Company (PD) under the name "New Oscar" which at that time was led by Mrs. Hioe Mie Tjen.

Over time, the leadership of the Company shifted to Mr. Hendro Jap as the second generation, where he decided to make the Company a legal entity Limited Liability Company (PT) in 2009.

With more than 40 years of experience, the Company's reputation has earned the trust of the public, both suppliers and customers.

Oscar Living offers 400 million shares or approximately 21.10% of the issued and fully paid capital, at a price of Rp 100 per share. With that, the funds raised from the public through this Public Offering are worth Rp. 40 billion.

The funds raised from this Public Offering will be used by PT Oscar Mitra Sukses Sejahtera Tbk to improve the company's performance, including for working capital, purchasing vehicles for delivery, opening new distribution warehouses and rejuvenating existing warehouses.

The plan is expected to boost the company's performance and increase the company's sales.

In the company's IPO, there was very high enthusiasm from the community. This can be seen from the oversubscribed of more than 35x in the public offering that was carried out on May 9, 2022 to May 12, 2022.

In addition to offering shares to the public, PT Oscar Mitra Sukses Sejahtera Tbk also issued 400 million warrants.

For people who invest in OLIV's IPO, they are entitled to these warrants at a ratio of 1:1, where 1 new share purchased is accompanied by 1 warrant. The Company plans to use the funds raised from the exercise of the warrants for working capital.

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