Mitra10 Outlet Owners Bring Subsidiary Shares To Public Offering Rp100-Rp130, Target To Get Maximum Funds Of Rp58.5 Billion

Photo: Kusuma Kemindo's share offering document

JAKARTA - PT Kusuma Kemindo Sentosa Tbk added to the queue list of companies that will sell their shares on the Indonesia Stock Exchange (IDX). This subsidiary of Mitra10 outlet owner PT Catur Sentosa Adiprana Tbk, plans to release 450 million shares or 27.27 percent of the issued and paid-up capital. Citing documents released by e-ipo.co.id, Tuesday 19 July, Kusuma Kemindo offered its shares with a price range of Rp. 100-Rp. 130. This means that the company has the potential to reap funds of Rp45 billion to Rp58.5 billion. Of the funds, most or up to 95 percent will be used by the company for working capital needs. While the remaining 5 percent is for the development of information systems and technology.

Based on the plan, the company will start the initial offering period today until July 27 to get the permit effective on July 29. Then the public offering period will be on August 2-4, 2022. After that, the company hopes that its shares with the code KKES can be listed on the BEI on August 8. For information, Kusuma Kemindo is a subsidiary of Catur Sentosa which is engaged in trading of chemical materials and goods with ownership of 51 percent. After the IPO, Catur Sentosa's ownership will be reduced to 37.09 percent.