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First Release on the Stock Exchange, Shares of Oscar Mitra Sukses Sejahtera (OLIV) Up 9%

KONTAN.CO.ID - JAKARTA. Shares of PT Oscar Mitra Sukses Sejahtera Tbk green during their first trading, Tuesday (17/5). The listed issuer with the stock code OLIV increased 9% to Rp 109 per share.

Just so you know, during the initial public offering (IPO), each OLIV share is offered at a price of Rp 100 per share.

Investor enthusiasm for OLIV shares has been seen since its public offering. It was noted that OLIV was oversubscribed or oversubscribed more than 35 times in the public offering which was held on 9-12 May 2022.

The Jakarta-based issuer offered 400 million shares or around 21.10% of the issued and fully paid capital. Each share was released at a price of Rp 100. So, the funds raised through this public offering reached Rp 40 billion.

The funds raised from the corporate action will be used to improve the company's performance, including for working capital, purchasing vehicles for delivery, opening new distribution warehouses, and renovating existing warehouses.

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

In addition to offering shares to the public, Oscar Mitra Sukses Sejahtera 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.

In other words, every new share purchased is accompanied by one warrant. The Company plans to use the funds raised from the exercise of the warrants for working capital.

President Director of PT Oscar Mitra Sukses Sejahtera Tbk Hendro Jap hopes that with the implementation of this IPO, OLIV can continue to be a market leader for furniture traders, especially online, and take part in the national digital and creative economy industry.

"With a strong capital structure and full support from the public, PT Oscar Mitra Sukses Sejahtera Tbk is ready to continue to be one of the proudest companies in Indonesia," he said in an official statement received by, Tuesday (17/5).

Just so you know, OLIV is an online-based furniture company with the Oscar Living brand. Through the current marketplace platform, OLIV has succeeded in changing the habits of the Indonesian people to shop for “High Touch” products online.

This was successfully achieved due to the marketing strategy and rich content supported by reliable and experienced human resources, making it easier for customers to become more independent in shopping.

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