Jakarta, CNBC Indonesia – PT Winner Nusantara Jaya Tbk (WINR) officially listed its shares on the Indonesia Stock Exchange (IDX) as of Monday (4/25/2022). Companies choose to go public for a variety of reasons.
WINR’s share price immediately shot up 27% to a price lever of Rp 127/unit. The transaction value reached Rp 70.73 billion with a volume of 530.65 million units of shares.
WINR President Director Liu Yut Men / Yusmen Liu said the first reason the company conducted an initial public offering was to increase funding for business development. Funding is needed by WINR to achieve the targets that have been set.
“In addition, the purpose of the Company conducting an IPO is also to increase the transparency and accountability of the Company so that the Company has Good Corporate Governance (GCG) is good,” Liu said in a written statement.
In the IPO, WINR released 1.5 billion shares to the public. The share amount is equivalent to 28.65% of the company’s issued and fully paid capital.
The funds obtained from the IPO amounted to Rp 150 billion after deducting the IPO costs. Later, WINR will use funds of around Rp. 100 billion to buy land covering an area of about 10 hectares in the Batam city area.
The rest, around Rp 30 billion, will be used to buy land in the Bogor area of about 7,000 meters.
“The purchase of the land will increase the number of land banks currently owned by the company so that it can support the Company’s expansion plans in the future. While the rest will be used for working capital for the Company and its Subsidiaries,” he said.
Liu said that WINR’s capital structure will also be healthier after officially becoming a public company. He believes the company can achieve all the targets that have been set for the next 5 years.
“During the public offering period from 19 – 21 April 2022, the company’s shares received quite positive interest from investors and all the shares offered were well absorbed, even experiencing oversubscribed up to 64.2 times the value of the centralized allotment,” he said.
(RCI/dhf)
–
