Aiming For Funds Of Up To IDR 36 Billion, Fishery Company To Lobster PT Agung Menjangan Offers Shares Starting At IDR 100

JAKARTA - The Indonesia Stock Exchange (IDX) will again welcome prospective issuers from the fishing industry sector. It is PT Agung Menjangan Mas Tbk which plans to release its shares to the public through an initial public offering (IPO) mechanism.

Quoting the site e-ipo.co.id, Wednesday, July 6, the company will issue 240 million shares with an initial price of around Rp. 100-Rp. 150 per share. From this plan, Agung Menjangan is estimated to reap fresh funds of Rp. 24 billion to Rp. 36 billion.

If realized, Agung Menjangan will use most or 75 percent of the IPO funds for working capital to meet its operational needs. Then, 13.63 percent for the purchase of PC-300 excavator machines.

In addition, the company also allocated 4.55 percent for the purchase of two dyna dump trucks and the remaining 6.82 percent for the purchase of a tandem roller bulldozer.

In holding this IPO, the company uses its financial statements for the first quarter of 2022. In this period, Agung Menjangan recorded net sales of IDR 1.92 billion with a profit for the period of IDR 301.35 million.

The initial offering period of the company's shares starts tomorrow (Thursday 7 July) until July 13, 2022 to obtain a permit effective on July 18, 2022. Then, the company will hold a public offering period from July 20-26, so that the listing of its shares on the IDX can take place on July 28 2022.

As additional information, the company appointed PT Indo Capital Sekuritas as implementing guarantor and underwriter.