Oil And Gas Equipment Rental Service Provider PT Sigma Energy IPO Starting From Rp190-Rp230 Per Share

Photo: Doc. Sigma Energy

JAKARTA - One by one, many companies are realizing that the capital market is a source of fresh funding for various needs. As did PT Sigma Energy Compressindo Tbk.

The company plans to become a public company through an initial public offering (IPO) mechanism by releasing 270 million new shares or equivalent to 29.67 percent of the issued and paid-up capital.

Citing the offering document released Tuesday, March 15, Sigma Energy shares are offered starting at Rp190-Rp230 per share. That way, Sigma Energy has the potential to reap fresh funds of IDR 51.3 billion to IDR 62.1 billion.

If the target is realized, Sigma Energy plans to use the proceeds from the IPO to pay debts to KEB Hana Bank Indonesia. The other part is for business development, and the rest is for working capital needs.

The company will start the initial offering period of its shares today until March 18, 2022, to get an effective date on March 29. Then followed by the initial public offering period on March 31 - April 5.

It is estimated that the initial listing of shares on the IDX will take place on April 7, 2022.

For additional information, Sigma Energy is a national private company founded in 2007 which is engaged in the business of equipment rental services for monetization of oil and gas flares using compression technology to reduce greenhouse gas emissions.

Currently, the company is the market leader in providing mini gas compressor services to monetize gas flaring and optimize oil and gas production in marginal wells as well as contributing to reducing greenhouse gas emissions by capturing up to 1,500 MMSCF of gas flared per year worth around 12 ,5 million US dollars.

In 2017 the Company started a new business branch engaged in the operation of gas stations under PT Sigma Niaga Gas. Together with SHELL, the first project was started in a strategic place, namely in the Soewarna Bussiness Park area of the Soekarno Hatta International Airport.