JAKARTA - Prospective mining contractor issuer PT Hillcon Tbk (HILL) targets to be able to reap a profit of IDR 1 trillion and revenue of IDR 6 trillion by 2023. This raises investor optimism regarding the company's dividends after carrying out the initial public offering (IPO).
In its prospectus, HILL intends to distribute cash dividends to shareholders in the amount of as much as 30 percent of the net profit for the financial year concerned, starting from the 2022 financial year. Dividends are given after reserves of net profit in accordance with applicable regulations and taking into account the decisions of shareholders in the GMS.
"With an IPO, the Company can reach IDR 6 trillion in 2023 for revenue, and a net profit of around IDR 1 trillion," said Finance Director Hillcon Jaya Andika at a press conference in Jakarta, Friday, January 13.
Jaya further revealed that Hillcon managed to achieve revenue of around IDR 3.2 trillion until December 2022, and a parent profit of around IDR 300 billion. On the same occasion, President Director Hillcon Hersan Qiu said the company's optimism for this year's IPO was because it would focus on nickel mining contractors, as a commodity that was considered unique.
"Unik is in a position as a contractor, actually because the price of rising commodities has no effect. This is an experience that has been running when the price has dropped. We are asked to keep production as much as possible, and when it goes up it's the same. It's a bit different from other commodities," said Hersan.
According to him, the nickel business in Indonesia is extremely efficient, so the prospects for the future, especially with its utilization as raw material for electric vehicle batteries, are very bright.
"With the president's policy of downstreaming, this is the reason why production can still be done when prices go down, because the production costs are very efficient, all mines and smelters are in the same place," he added.
The prospective mining contractor issuer has again announced its initial public offering (IPO) after being canceled last year. Based on the concise prospectus, HILL plans to offer as many as 442.3 million ordinary shares with a nominal value of Rp100.
Meanwhile, the price offered for this IPO is in the range of Rp1,250 - Rp2,000 per sheet and hopes to reap fresh funds of as much as Rp884.6 billion.
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