Slaughterhouse Company, Widodo Makmur Sets IPO Price At IDR 160: Potential To Raise IDR 707.04 Billion In Funds

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Widodo Makmur Perkasa Tbk set an offering price of Rp160 in an initial public offering (IPO). This animal slaughtering company also has the potential to reap Rp707.04 billion of funds from this action.

In the prospectus issued by the company, quoted on Tuesday, November 30, the company which will be listed on the stock exchange with the code WMPP will offer 4.41 billion new shares which are common shares on behalf of the company. This portion represents 15.02 percent of the company's issued and fully paid capital after the IPO.

The nominal value of the shares is set at Rp.20 and the offering price is Rp.160. Thus, the company will pocket IDR 707.04 billion in this IPO action.

The public offering period is scheduled for November 30 - December 2, 2021. The allotment date on December 2, 2021 and the date for electronic distribution of shares on December 3, 2021.

Furthermore, the company's shares will be listed on the Indonesia Stock Exchange on December 6, 2021. Acting as underwriters for the issuance of securities are PT BRI Danareksa Sekuritas, PT CIMB Niaga Sekuritas, PT Surya Fajar Sekuritas, and PT Mirae Asset Sekuritas Indonesia.

Meanwhile, the underwriters are PT Samuel Sekuritas Indonesia, PT Valbury Sekuritas Indonesia, and PT Yulie Sekuritas Indonesia Tbk.

Furthermore, the company plans to use around 11.50 percent of the IPO funds to finance the development of joint operations (KSO) export yards, logistics and abattoirs in Australia with partners.

Around 19 percent will be used to finance the construction of integrated livestock facilities and corn plantations in Sumatra, Sulawesi and Papua. Around 19 percent will be used for providing capital to business entities, while the remaining 50.50 percent will be used for company working capital.

WMPP is a company engaged in the business of slaughterhouses, animal feed trading, wholesale trading of beef, chicken and their products, as well as wholesale trading of agricultural food and beverages. The holding company of PT Widodo Makmur Unggas Tbk (WMUU).