Archi Indonesia, A Company Owned By Conglomerate Peter Sondakh Is Ready To Go To The Stock Exchange, Aiming To Raise Rp2.7 Trillion In Funds
JAKARTA - PT Archi Indonesia's plan to be listed on the Indonesia Stock Exchange is only a matter of days. This gold mining company will hold an initial public offering (IPO) with an initial offering price in the range of Rp750-Rp800 per share.
The initial offering period runs from June 22, 2021, to June 24, 2021. Through the IPO, the company owned by conglomerate Peter Sondakh will release a maximum of 3.72 billion new shares or equivalent to 15 percent of the issued and fully paid capital. The final offering price is set at Rp750 per share.
If calculated, the fresh funds obtained by the company from this IPO are at least Rp. 2.79 trillion. The company from the Rajawali Corpora Group has also partnered with PT BNI Sekuritas, PT Citigroup Sekuritas Indonesia, PT Credit Suisse Sekuritas Indonesia, PT Mandiri Sekuritas, and PT UOB Kay Hian Sekuritas as underwriters for the issuance of securities from this corporate action.
Following the implementation of the Initial Public Offering, in accordance with the decision of the GMS, Archi Indonesia will allocate 1.61 percent of the issued and fully paid capital for the share purchase option program to management and employees (MESOP).
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A maximum of 400 million shares, with an MESOP exercise price of at least 9 percent of the average closing price of the company's shares for a period of 25 consecutive Exchange Days on the Regular Market before the listing application is made to the IDX.
As for the funds obtained in this corporate action, around 95 percent will be used by Archi Indonesia and/or its subsidiaries to pay off a portion of the principal of the bank loan. Then, the remaining funds will be used by the company, PT Meares Soputan Mining (MSM) and/or PT Tambang Tondano Nusajaya (TTN) to finance operational activities and working capital.
For information, throughout 2020, Archi posted revenue from contracts with customers of US$393.3 million. This achievement grew by 2.5 percent compared to 2019 of US$383.7 million.
Meanwhile, Archi Indonesia's net profit in 2020 was US$123.34 million. The realization increased 32.68 percent year on year, from 92.96 million US dollars.