https://www.cnbcindonesia.com/market/20220516102416-17-339306/listing-besok-simak-profil-oscar-living-emiten-ke-20-di-2022
Jakarta, CNBC Indonesia - After the long weekend, PT Oscar Mitra Sukses Sejahtera Tbk (OLIV) will open stock trading on the Indonesia Stock Exchange for the purpose of listing OLIV shares and warrants on the IDX acceleration board.
OLIV, the Oscar Living furniture manufacturer, will become the 20th listed company to be listed on the IDX in 2022.
OLIV operates in the consumer cyclicals sector with the household goods sub-sector. The industry of OLIV is Household Goods with Home Furnishings sub-industry.
"OLIV's offering price is Rp. 100 per share, with 1,900,000,000 listed shares, so the market capitalization is Rp. 190 billion," said information disclosure, Monday (16/5/2022).
Oscar Living offers 400,000,000 new shares or the equivalent of a maximum of 21.10% of the company's issued and paid-up capital after the public offering, which are new shares issued from the Company's portfolio with a nominal value of Rp 10 per share.
In addition, OLIV Warrants will be registered with the code OLIV-W. The exercise price from OLIV-W is IDR 120.
After the IPO, 71.84% of the company's shares are owned by Hendro Jap, 7.11% by Hioe Mie Tjen, and 21.05% by the public.
Previously, Oscar Living explained that the proceeds from this Public Offering, after deducting emission costs, will be used entirely by the Company as follows:
-About 11.78% will be used by the Company for capital expenditure related to warehouse renovation and strengthening the trading network of furniture products by adding to its own fleet of trucks. Meanwhile, when this prospectus was published, the Company was still in the exploration stage for the party to be appointed as a counterparty to the transaction with the Company. The company estimates that the implementation period for the use of the funds is around 2 years.
-About 88.22% will be used by the Company for working capital in the form of purchasing supplies, employee salaries, and marketing activities. The use of the Public Offering funds will also include leasing new warehouses. Meanwhile, when this prospectus was published, the Company was still in the stage of exploring several options for the new warehouse locations, where the new warehouse locations would be located in various cities in Indonesia.
"Meanwhile, the funds obtained by the Company from the exercise of the Series I Warrants will be used entirely for working capital in the form of purchasing supplies, employee salaries, and marketing activities," the prospectus wrote.