JAKARTA, investor.id - Online furniture company PT Oscar Mitra Sukses Sejahtera Tbk (OLIV) is preparing to conduct an initial public offering (IPO) of 400 million shares on May 9-12, 2022.
The number of shares offered is 21.10% of the issued and fully paid-up capital of the company after the public offering. OLIV offers an IPO price of IDR 100 per share.
The company also offered 400 million series I warrants, representing 26.67% of the total issued and fully paid shares at the time the registration statement was submitted to the Financial Services Authority (OJK).
Series I warrants are securities that give the holder the right to purchase ordinary shares on behalf of a nominal value of Rp. 10 per share with an exercise price of Rp. 120. Thus, a total of Rp. 48 billion can be exercised starting six months after the series of warrants. I was issued by the company, starting on November 14, 2022 until May 18, 2023.
Acting as the implementing guarantor of the securities issuance is PT Danatama Makmur Sekuritas.
All funds obtained from this public offering, after deducting emission costs, will be used by the company around 11.78 percent for capital expenditures related to warehouse renovation and strengthening the trading network of furniture products by adding an own-fleet fleet in the form of trucks. . Meanwhile, when the prospectus was issued, 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 will be around two years.
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. At the time 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 series I warrants will be used entirely for working capital in the form of purchasing supplies, employee salaries, and marketing activities.
To note, Oscar Mitra Sukses Sejahtera is a company engaged in online furniture trading. As one of the pioneers in online sales, the company was invited to cooperate with various marketplaces, one of which was JD.ID where the company received an award as the first furniture store in the marketplace.
Initially, the company used this opportunity 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, currently online sales are one of the biggest contributions to the company's sales.
Here's the complete schedule for OLIV's IPO:
Effective date: 27 April 2022
Initial public offering period: 9-12 May 2022
Allotment date: 12 May 2022
Date of distribution of shares & warrants electronically and refund: 13 May 2022
Listing date of series i shares and warrants on the Indonesia Stock Exchange: 17 May 2022
Editor : Theresa Sandra Desfika (theresa.sandra@investor.id)
Source: Investor Daily