IPO Trisula Textile
PT Trisula Textile Industries Tbk released as much as 20.69% of the shares through an initial public offering (IPO) scheme. The textile company’s IPO price ranges from Rp 140-150 per share.
“As much as 20.69% of the paid-up capital and placed after the IPO is equivalent to 300 million shares,” said Wientoro Prasetyo, chief executive of PT Lotus Andalan Sekuritas, as underwriter of the Jakarta-based securities company, Wednesday (6/9).
With a price range of Rp 140-150 per share, Trisula Textile has the opportunity to raise Rp 42-45 billion. The initial offer period or bookbuilding commences on 5-7 September 2017. The effective statement of OJK is expected on September 15, 2017 and the period of public offering on 19-22 September 2017. While listing on BEI on 28 September 2017.
The company that owns the factory in Cimahi, Bandung, West Java, has set a 70% IPO fund to buy new machines to support the production process. While the remaining IPO funds of 30% will be used for working capital to support the company’s operations.
Previously, the Indonesia Stock Exchange (BEI) stated that the company’s interest to hold an IPO and listing of shares in IDX is still high. Until August 23, 2017, as many as 11 companies have the potential to hold an IPO until the end of the second half of 2017.
Director of Corporate Assessment of BEI Samsul Hidayat said that as many as seven companies have started processing IPO permits to the Financial Services Authority (OJK). On the other hand, three companies do mini exposure on BEI related to the plan to become an open company.
BEI and the Chamber of Commerce and Industry (Kadin) are also working together to encourage companies to list on the Indonesian stock market. Currently, many Kadin members are still not listed on the stock exchange.
IDX President Director Tito Sulistio once said, not to 0.1% of companies that are members of Kadin. Meanwhile, not yet up to 50% of companies listed on the exchange, are members of the employers’ organization.
“We want this Kadin to be the spearhead with entrepreneurs in Indonesia. It is appropriate to cooperate with the stock on a regular basis, “he said.
Tito explained that both IDX and Kadin will appeal to the companies to list and also become members of Kadin. According to him, it is reasonable because the agency is fighting for regulations that simplify and relax business in Indonesia.
Chairman of Kadin Indonesia Rosan Perkasa Roeslani said, many companies have great potential to conduct IPO shares, so that the company can get alternative financing in addition to banking.
“We from Kadin will encourage potential companies. Not only increase the number of issuers, but also encourage investors in Indonesia to invest in the stock, “he said.