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Tomorrow's Listing, Oscar Mitra (OLIV) Raises IDR 40 Billion in Fresh Funds

KONTAN.CO.ID - JAKARTA. The Indonesia Stock Exchange (IDX) will welcome new issuers on the first day of this week starting on Tuesday (17/5). The issuer in question is PT Oscar Mitra Sukses Sejahtera Tbk, which is a furniture company that will use the OLIV stock code.

"On Tuesday, May 17, 2022, IDX trading hours will be opened by PT Oscar Mitra Sukses Sejahtera Tbk (OLIV) in order to list OLIV shares and warrants on the IDX acceleration board," said IDX from its official website.

In the initial public offering (IPO) plan, OLIV offers 400 million shares to the public, equivalent to a par value of Rp 10 per share. Meanwhile, the shares held by the board of directors and founders reached Rp 1.5 billion. Thus, OLIV listed 1.9 billion shares on the IDX.

In its allotment, OLIV sets the IPO price at Rp 100 per share. This price is the lower limit of the offering price which is in the range of Rp 100 to Rp 125 per share.

Based on the IDX report, the company which is engaged in retail trade of furniture for household goods and equipment from this will reap fresh funds of Rp 40 billion.

"OLIV's offering price is Rp. 100 per share, with a total of 1.9 billion listed shares, so its market capitalization is Rp. 190 billion," said IDX.

In addition to shares, in tomorrow's trading, IDX will list Series I warrants. The total number of warrants offered is 400 million warrants, representing 26.67% of the total issued and paid-up shares.

Just so you know, based on the company's financial reports, as of October 2021, OLIV scored sales of Rp 39.39 billion, a 64.88% 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 is up from Rp 7.74 billion a year earlier.

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