JAKARTA - PT Atlantis Subsea Indonesia Tbk (ATLA) and PT Multi Hanna Kreasindo Tbk (MHKI) officially took the floor on the Indonesia Stock Exchange (IDX), Tuesday, April 16, 2024.
In the first trade, at 09.00 WIB, ATLA's shares rose 35 percent to a price position of Rp 135 per share. Meanwhile, MHKI's shares rose 6.25 percent to a price position of Rp170
Meanwhile, infrastructure company ATLA offers 1.2 billion shares with a nominal value of IDR 8 per share, representing 19.36 percent of the issued and fully paid capital by selling an offering price of IDR 100 per share so that the funds that can be collected are IDR 120 billion.
Along with the IPO, ATLA also issued 1.74 billion Series I Warrants or 34.80 percent of the total number of shares. The funds that can be collected from Series I Warrants reached IDR 522 billion.
Around 43.52 percent of the proceeds from the IPO will be used to purchase supporting equipment for operational activities. Meanwhile, the rest will be used for working capital purposes. All funds from the implementation of Series I Warrants will also be used as working capital. In this IPO, ATLA appoints Artha Sekuritas Indonesia as the underwriter.
Launching the prospectus, ATLA posted revenue of IDR 30.75 billion as of September 2023, a 26.59 percent decline on an annual basis or year on year (yoy). ATLA pocketed a profit for the current year of IDR 1.87 billion, down 36.61 percent.
Meanwhile, in the implementation of the initial public offering (IPO), MHKI released 750 million shares to the public, equivalent to 20 percent of the company's issued and fully paid capital after the IPO. The public offering price with a nominal value of IDR 160 per share, so that through this corporate action MHKI was able to raise funds of IDR 120 billion.
In addition, MHKI management appointed PT NH Korindo Sekuritas Indonesia as the underwriter for the Implementation of Emissions.
For information, during the first nine months in 2023, MHKI posted revenue of IDR 108 billion or grew 13.3 percent compared to the same period in 2022 of IDR 95.32 billion.
Meanwhile, net profit for the period ending September 30, 2023 was recorded at Rp. 23.25 billion or 5.56 percent lower than the same period in 2022 of Rp. 24.62 billion. Thus, MHKI's net profit margin (NPM) in the third quarter of 2023 is in a high category, which is 21.53 percent.
Meanwhile, as of September 30, 2023, MHKI's equity reached IDR 302.46 billion, while the total liabilities were recorded at IDR 24.34 billion. So total assets as of September 30, 2023 reached IDR 326.8 billion or an increase of 92.02 percent compared to December 31, 2022, which amounted to IDR 170.19 billion.
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Meanwhile, MHKI's assets have consistently experienced growth, because at the end of December 2021 it was still recorded at IDR 154.43 billion and at the end of December 2020 it was valued at IDR 132.24 billion.
Meanwhile, the MHKI of all IPO proceeds will strengthen the performance of the Company's business which will be used for the Company's capital expenditure (capex) by 97.9 percent. The details are 60.32 percent to meet capex needs related to the plant construction plan in Lamongan, East Java, while 39.68 percent for the capex at the MHKI Head Office.
Meanwhile, the remaining 2.1 percent of the IPO proceeds will be used as working capital for the MHKI, namely in the form of adding raw material supplies and operational costs.
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