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Oscar Mitra (OLIV) IPO Shares Increase at 101 Points, It Releases 400 Million Shares!


Warta Ekonomi, Jakarta - PT Oscar Mitra Sukses Sejahtera Tbk will conduct an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX) today, Tuesday (17/5/2022). His party will release 400 million shares to the public in an Initial Public Offering (IPO) with an amount equivalent to a nominal value of Rp. 10 per share. The issuer with the stock code OLIV will become the 20th listed company on the IDX in 2022.


Based on data from RTI Business, stocks rose, at 12.08 WIB, OLIV shares rose 1% or 1 point at the level of 101 points. The value of trading transactions reached Rp. 22.6 billion from 217.3 million shares traded.


The shares and warrants of PT Oscar Mitra Sukses Sejahtera Tbk. (OLIV) is officially listed on the Acceleration Board of the Indonesia Stock Exchange (IDX). OLIV is the 20th listed company to be listed on the IDX in 2022.


In the IPO plan, which was disclosed to the public, the shares held by the board of directors and the founder of the issuer codenamed OLIV reached IDR 1.5 billion. Thus, OLIV listed 1.9 billion shares on the IDX.


Based on the IDX report, the company which is engaged in the retail trade of furniture for household goods and equipment from this will reap fresh funds of Rp. 40 billion. It even set an IPO price of IDR 100 per share. This price is the lower limit of the offering price which is in the range of IDR 100 to IDR 125 per share.


In addition, OLIV's shares listed in Series I color were offered at 400 million warrants representing 26.67% of the total issued and paid-up shares.


Then, OLIV is a company engaged in online furniture trading, with its brand, Oscar Living. As an online-based furniture company 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.


OLIV also received an award as the first furniture store in the JD.ID marketplace. Initially, OLIV used the opportunity to sell online only as an additional sales channel for its business activities.


However, with the increasing trend of online shopping and due to the prolonged COVID-19 pandemic, today online sales are one of the biggest contributions to OLIV sales.


It should be noted, based on the company's financial statements, as of October 2021, OLIV scored sales of Rp. 39.39 billion, a 64.88 percent jump from the same period the previous year which was only Rp. 23.89 billion.


In addition, OLIV's profit for the year also more than doubled, from Rp. 206.32 million to Rp. 525.08 million as of October 2011.


Sales of plastic products are the biggest contributor to OLIV's sales. The sales value as of October 2021 reached Rp. 16.32 billion. This figure increased from Rp. 7.74 billion a year earlier.


The company will use 11.78% of the proceeds from the IPO for capital expenditures related to warehouse renovations and strengthening the trading network for furniture products by adding an own-fleet fleet of trucks.


In addition, around 88.22% will be used by OLIV for working capital in the form of purchasing supplies, employee salaries, and marketing activities. The use of the proceeds from this public offering also includes leasing new warehouses.


Meanwhile, PT Danatama Makmur Sekuritas acts as the implementing guarantor for the company's securities issuance.


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.

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