Set Initial Price Of IDR 100 Per Share, Broiler Breeding Company From Cianjur Will Get IDR 70 Billion IPO Funds

JAKARTA - The broiler farming company and livestock retail trade, PT Dewi Shri Farmindo Tbk, has ended the initial public offering (IPO) period. As a result, the initial shares with the DEWI code were set at IDR 100.

Citing the company's offer document on e-ipo.co.id, Tuesday, July 12, with the determination of the initial share price, Dewi Shri will earn IDR 70 billion in funds. This is because the company released 700 million shares, equivalent to 35 percent of the issued and fully paid capital.

The document also explains that around 11.71 percent of the proceeds from the IPO or IDR 7.48 billion will be used by the company to purchase affiliated land. Then 5.74 percent or IDR 3.67 billion for the purchase of non-affiliated land covering an area of 10,773 square meters.

The company will also use 10.17 percent or IDR 6.5 billion for the construction of RPA facilities, IDR 9.98 billion or 15.62 percent to build a commercial farm boiler facility, and the rest for working capital which will be used to buy day-old chicks (DOC). and purchase of chicken carcasses.

After setting the initial share price, Dewi Shri started the public offering period from today until July 14. Then, DEWI's shares will be listed on the Indonesia Stock Exchange (IDX) on July 18.

During the IPO, Dewi Shri appointed PT KGI Sekuritas Indonesia and PT Binaartha Sekuritas as underwriters for the issuance.