https://market.bisnis.com/read/20220516/7/1533533/besok-emiten-furnitur-oscar-living-oliv-bakal-melantai-di-bursa
The Oscar Living furniture producer and distributor will sell 400 million shares or the equivalent of 21.1 percent shares with a nominal value of Rp. 10 per share.
Bisnis.com, JAKARTA - On the first trading day of this week, Tuesday (16/5/2022), the Indonesia Stock Exchange (IDX) will welcome a new issuer, PT Oscar Mitra Sukses Sejahtera Tbk. (OLIV).
Entering the non-cyclical consumer sector, the household products sub-sector, Oscar Living furniture producer and distributor will release 400 million shares or the equivalent of 21.1 percent shares with a nominal value of Rp. 10 per share.
With a public offering price of Rp. 100, this prospective issuer coded OLIV will reap IPO funds of Rp. 40 billion. OLIV will list its shares at the opening of trading tomorrow, Tuesday (16/5/2022).
Meanwhile, the admin participant, Danatama Makmur Sekuritas, also acts as a securities underwriter. OLIV also issued series I warrants along with the IPO as many as 400 million series I warrants representing a maximum of 26.67 percent of the total issued and paid-up shares.
The series I warrants entitle the holder to purchase common shares on behalf of the company with a nominal value of Rp. 10 per warrant which can be exercised starting 6 months after the series I warrants were issued by the company from 24 October 2022 to 28 April 2023.
Furthermore, the entire proceeds from the IPO, after deducting emission costs, will be used around 11.78 percent for capital expenditures related to warehouse renovations and strengthening the trading network for furniture products by adding an own-fleet 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.
Furthermore, the remaining 88.22 percent will be used as 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 location, where the new warehouse locations will 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 Company is a company engaged in online furniture trading. As one of the pioneers in online sales, the Company is invited to cooperate with various marketplaces, one of which is JD.ID. 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, online sales are one of the biggest contributions to the Company's sales.
The Company continues to add new products, both brands and sub-categories such as Laundry & Cleaning, Baby Furniture, Plastic Furniture, to complete the company's portfolio with the aim of increasing sales.
The products marketed by the company are the result of domestic production. In running its business, the company collaborates a lot with MSMEs and weaving craftsmen who produce Sofas to Sofabeds. The furniture uses troso woven fabric which is a best-seller to date.
Since 2020, the Company has become one of the best predicated online furniture traders in almost all marketplaces.
This reputation has resulted in opportunities such as invitations to foreign countries as a cross-border seller or cross-border online platform for Southeast Asia. The Company succeeded in expanding the Company's market share and expanding its wings in the retail markets of Malaysia, the Philippines, Singapore, Thailand and Vietnam through sales in local marketplaces.
Artikel ini telah tayang di Bisnis.com dengan judul "Besok! Emiten Furnitur Oscar Living (OLIV) Bakal Melantai di Bursa", Klik selengkapnya di sini: https://market.bisnis.com/read/20220516/7/1533533/besok-emiten-furnitur-oscar-living-oliv-bakal-melantai-di-bursa.
Author: Rinaldi Mohammad Azka
Editor : Aprianto Cahyo Nugroho
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