top of page

Oscar Living will IPO, Offer Initial Shares at the Level of Rp 100 - Rp 125



https://katadata.co.id/lavinda/finansial/624be6b41bd33/oscar-living-akan-ipo-tawarkan-saham-perdana-di-level-rp-100-rp-125


Oscar Living will use 88.22% of the proceeds from the IPO for working capital in the form of purchasing supplies, employee salaries, and marketing activities.


PT Oscar Mitra Sukses Sejahtera Tbk plans to be listed on the stock exchange at the end of April 2022. In an initial offering that took place on April 4-14, 2022, the Oscar Living furniture company offered shares with a price range of Rp 100 - Rp 125.


In the prospectus released, in the process of an initial public offering (IPO), the company offers a maximum of 400 million shares or 21.10% of the issued and paid-up capital after the IPO. The company targets to obtain fresh funds of a maximum of Rp 50 billion.


Furthermore, the effective date is estimated to be April 21, 2022. Then, the offering period is April 22 - 27 2022, the allotment period is April 27 2022, and the estimated electronic distribution is April 28, 2022.


Oscar Living targets to be listed on the Indonesia Stock Exchange (IDX) with the code OLIV on April 29, 2022. Meanwhile, the implementing underwriter is PT Danatama Makmur Sekuritas.


Along with this IPO, the company also issues Series I Warrants of a maximum of 400 million. This amount represents approximately 26.67% of the total issued and fully paid shares at the time the registration statement is submitted to the Financial Services Authority (OJK).


Series I warrants are given free of charge as an incentive to new shareholders whose names are recorded in the allotment list. Each shareholder is entitled to one warrant. Meanwhile, one warrant gives the holder the right to buy one new share of the company issued in a portfolio.


Series I warrants have an exercise period of six months from issuance. The period is from October 24, 2022 to April 28, 2023.


The company will use 11.78% of the proceeds from the IPO for capital expenditures related to warehouse renovations and strengthening the trading network of furniture products, by adding its own fleet of trucks. Then, around 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 this public offering fund also includes leasing new warehouses," the prospectus said, quoted on Tuesday (5/4).


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.

17 views0 comments

Commentaires


bottom of page