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To pay salaries to buy supplies, Oscar Mitra Sukses Sejahtera offers 400 million shares

Updated: Apr 8, 2022 - PT Oscar Mitra Sukses Sejahtera Tbk will conduct an initial public offering (IPO), by releasing 400 million shares with a nominal value of Rp. 100 per share.

The number of shares issued is equivalent to 21.1 percent of the issued and fully paid capital.

Citing the prospectus of prospective issuers engaged in trading household goods, which was uploaded on the e-IPO page, Monday (4/4/2022), the company offers a range of Rp. 100 to Rp. 125 per share.

Thus, the company has the opportunity to raise funds from Rp. 40 billion to Rp. 50 billion.

In addition, the company still has the opportunity to obtain funds from the exercise of the warrants. Because, at the same time as the IPO, 400 million series I warrants were also released. The warrants were distributed to new shareholders registered in the allotment on April 8, 2021, for free as an incentive.

As for the ratio, 1 new share gets 1 warrant series 1. Furthermore, 1 warrant can be redeemed into 1 company share with an exercise price starting from October 24, 2022 to April 28, 2023.

It is planned that 11.78 percent of the proceeds from the IPO will be used for capital expenditures such as repairing warehouses and strengthening the network of furniture products by adding to the truck fleet.

Meanwhile, 88.22 percent of the IPO funds were for working capital such as purchasing supplies, employee salaries, and marketing activities.

Based on the financial report as of October 2021, the company recorded a net profit of IDR 525.081 million, after posting sales of IDR 39.387 billion.

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