Officially Listed On The Stock Exchange, DAAZ Will Continue To Do Business Expansion

Photo: (Aris Nurjani/VOI)

JAKARTA PT Daaz Bara Lestari Tbk (DAAZ) officially took the floor on the Indonesia Stock Exchange (IDX) through an initial public offering (IPO) on Monday, November 11, 2024.

To note, DAAZ's IPO offers as many as 300,000,000 shares with a nominal value of IDR 100 per share, equivalent to 15.02 percent of the issued and fully paid capital. The final price set by the company is IDR 880 per share.

With the results of this stock IPO, DAAZ managed to obtain additional capital of Rp264 billion. During the public offering period from November 1, 2024 to November 7, 2024, DAAZ's share demand experienced an oversubscription of 323x.

As for this IPO, the Company appointed PT Henan Putihrai Sekuritas and PT CGS International Sekuritas Indonesia as the Implementing Guarantee for Emissions as well as Emission Guarantee for Emissions.

DAAZ Finance Director Muljanto said his party was optimistic about the enthusiasm of IDX investors for this IPO. The success of this public offering reflects market confidence in DAAZ's business strategy and long-term growth potential.

"Oversubscription on the Company's shares is an additional energy and enthusiasm for us, because although many new issuers run the IPO, DAAZ public offering also attracts public attention," he said at the IDX on Monday, November 11.

Muljanto said that the funds obtained from this public offering would be used for the company's working capital and subsidiaries.

According to Muljanto, the proceeds from the IPO plan is that 33.34 percent will be used for the purchase of nickel ore and the company's working capital and 66.66 percent will be channeled through loans to be used for coal purchases, purchase of diesel fuel and working capital in subsidiaries.

On the same occasion, DAAZ President Director Mahar Atanta Sembiring said that his party is very optimistic that the company's future will be driven by increasing demand for nickel, coal and fuel commodities.

Mahar added that other things that encourage the need for sea transportation and more efficient mining services, which are driven by the Government of the Republic of Indonesia program to continue to develop mineral downstreaming, DAAZ is ready to take a big role in meeting national market needs.

Furthermore, Mahar explained that this IPO step will strengthen the company's competitiveness and increase the confidence of stakeholders.

"With better access to the capital market and a wider shareholder base, we believe we can achieve sustainable growth," he said.

In addition, he believes that business diversification and home business growth are also driven by government policies, especially through deindustrialization and industrialization programs.

Mahar is committed to continuing to develop this diversification plan and hopes to collaborate with the government in in integrating these programs.

"We are trying to play a contribution in the best real government programs to the Indonesian economy and also to regional investors," he explained.

Mahar hopes that future government policies can provide certainty and confidence for investors, so that they can see the long-term investment potential in Indonesia.

Regarding mining services, Mahar explained that his party not only acts as a mining contractor, but also provides survey services, quality mapping, and exploration.

According to Mahar, the growth of the company's business will be driven by solid funding, but his party will also focus on providing quality and innovative services as part of the contribution to industry and society.