Harita Group Subsidiary, NCKL Targets Revenue To Increase 100 Percent After IPO

Illustration of the Rupiah (Photo: Doc. Antara)

JAKARTA - PT Trimegah Bangun Persada Tbk (NCKL) targets revenues to grow 100 percent by 2023 after the company held an Initial Public Offering (IPO) in April 2023.

"If we describe it with numbers, the minimum increase in income is doubled compared to 2022, but it all depends on the price of nickel in the market, because the price is very volatile," said NCKL Finance Director Suparsin Darmo Liwan at a press conference at the Grand Hyatt Hotel, Jakarta, Friday.

In addition, Harita Group's business conglomerate entity in the field of nickel mining and downstreaming targets the volume of ferronickel production to quadruple in 2023 after the company held an IPO.

His party explained that the company offered its initial shares to various foreign investors in Asia, including Singapore, Hong Kong, to China, then also investors from Europe who include the UK and other countries.

"And we are doing a virtual roadshow to investors in the United States (US)," said Suparsin.

He said as much as 40 percent of the proceeds from the IPO will be used for capital expenditures which include the construction of nickel processing plants, as well as to support project construction completion, increase production capacity, pay off part of the loan, as well as additional company working capital.

In addition, the company will allocate a maximum share of 0.5 percent or 60.5 million shares of the total IPO shares for the share allocation program to the company's employees (Employee Stock Allocation, ESA), where the exercise price of ESA is the same as the offering price.

In the IPO, NCKL targets to raise funds of IDR 9.7 trillion, with the initial offer or book building of NCKL shares starting from March 15 to March 24, 2023 and officially recording on the Indonesia Stock Exchange (IDX) on April 12, 2023.

PT Trimegah Bangun Persada Tbk is a company with upstream and downstream capabilities in the nickel industry for more than 10 years on Obi Island, South Halmahera, North Maluku.

The entity from the Lim family-owned business conglomerate recorded profit for the current period which shot up 207.95 percent yoy from IDR 1.39 trillion as of November 2021 to IDR 4.30 trillion as of November 30, 2022, which profit per share also rose from IDR 23.16 per share to IDR 78.63.