Jakarta, CNBC Indonesia – A company engaged in the rice producer and supplier business, PT Wahana Inti Makmur Tbk (NASI), listed its initial shares on the Indonesia Stock Exchange, Monday (12/13/2021).
The company became the 52nd listed issuer this year on the IDX by releasing 200 million shares or 24.77% of the paid-in capital at a public offering price of Rp 155 per share.
During its first debut, NASI’s shares were observed to have moved up 34.19% to Rp 208 per share, up 53 points after being traded with a volume of 101.61 million with a transaction value of Rp 20.27 billion. Currently, the market capitalization value of NASI on the IDX reaches Rp. 167.94 billion.
President Director of NASI, Piero Mustafa said, “This IPO is a key milestone in the company’s journey to step up as a public company that is accountable, transparent and responsible to all investors, the community and all stakeholders in running the business going forward.
“By becoming a public company, the company can take advantage of the opportunity to develop and grow bigger, of course with the support of the community as part of the company’s shareholders,” said Mustafa.
From this corporate action, the company obtained funds of Rp. 31 billion. It is planned that around 10 percent of the funds obtained from the public offering will be used to purchase vehicles such as trucks, box cars, and motorcycles from third parties in order to support the company’s operational activities.
Then, around 3% will be used to pay off the purchase of land located in Karanganyar Village, Pusakajaya District, Subang Regency, West Java with an area of 2,589 m2 which will be used for the company’s warehouse.
Approximately 12% will be used to finance the construction of the company’s warehouse on Target Land, where the construction of the warehouse is planned to be carried out in 2022 and will be built by a third party contractor who will be appointed by the Company.
The rest will be used for the company’s working capital, including to purchase raw materials and supporting materials as well as to finance operational activities.
Although the Company is not the first rice producer to be listed on the IDX, the Company has a competitive edge, especially as a specialized rice producer.
In the condition of the national economy which has not fully recovered as a result of the COVID-19 Pandemic, the company remains optimistic that the company’s business will continue to grow and develop in line with the increase in the people’s basic needs for rice.
(sys / hps)
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