Start Offering Shares At A Price Of IDR 100 Today, Black Diamond Will Earn IDR 125 Billion Fund

JAKARTA - The coal mining company PT Black Diamond Resources Tbk further strengthens its intention to become an open company on the Indonesia Stock Exchange (IDX). Especially after the company set a share price of IDR 100 in the initial public offering plan (IPO).

Citing the e-ipo.co.id website, Black Diamond released 1.25 billion shares or the equivalent of 20 percent of the company's issued and fully paid capital. With the stipulation of the initial price, the company will reap fresh funds of IDR 125 billion.

In detail, the company's IPO plan has received an effective permit on August 30, 2022. Then, starting today (Thursday, September 1) until September 5 will take place during the public offering period.

In implementing this IPO, the company appointed PT Surya Fajar Sekuritas as the underwriter for the issuance of securities and underwriters. Furthermore, the company's shares with the code COAL will be recorded on the IDX on September 7.

As additional information, most of the company's IPO proceeds will flow as a subsidiary capital expenditure, namely PT Dayak Building Primary (DMP). The value is IDR 40 billion.

The rest will be DMP's working capital to pay the costs of mining contractors, up to employee salaries.