KKES, This Chemical Distribution Company Sets Offer Price Of IDR 105 Per Share In IPO Celebration

Illustration. (Photo: Doc. Antara)

JAKARTA - Chemical distribution company, PT Kusuma Kemindo Sentosa Tbk (KKES) has set an offering price in the context of an Initial Public Offering (IPO) of Rp105 per share. During the bookbuilding period, which will take place from 19-27 July 2022, KKES will set an offering price of between Rp. 100-Rp. 130 per share.

The company, which will be listed under the KKES stock code, will release 300,000,000 shares to the public. This amount is equivalent to 20 percent of the issued and fully paid capital after the IPO.

With an offering price of IDR 105 per share, KKES has the potential to obtain fresh funds of IDR 31.5 billion. After deducting securities issuance costs, the IPO proceeds are planned to be used for several purposes.

The Company carries out the Employee Stock Allocation (ESA) program with a total of 1.19 percent of the amount offered in the Public Offering or 3,577,000 shares.

All proceeds from this Initial Public Offering, after deducting securities issuance costs, will be used to:

1. Around 95 percent will be used for working capital in order to support the company's operational activities and business development with details, among others:

- About 30 percent for operational costs such as salaries, transportation costs, office costs, sales costs and others.

- Approximately 65 percent for the purchase of merchandise, payment of trade payables to suppliers.

2. Around 5 percent will be used for the development of the company's information and technology systems, including the digitization of IT systems for sales, delivery, inventory and logistics.

Several things that will be done by KKES in the future are increasing purchases both in volume and product, reducing bank loans, getting new principals and products with a strong team to take off. In addition, KKES also plans to expand new branches in the West Java and Central Java areas, including digitizing the Sales Service and Inventory Control process.

In this IPO, KKES appointed PT Mirae Asset Sekuritas Indonesia as the underwriter. The public offering is scheduled to take place August 2-4, 2022.

The allotment date is August 4, 2022 and the distribution of shares electronically on August 5, 2022. KKES will be listed on the Indonesia Stock Exchange on August 8, 2022.

KKES was founded in 1990 in Jakarta, Indonesia. KKES is a subsidiary of PT Catur Sentosa Adiprana Tbk, a company engaged in the distribution business of building materials and Consumer Goods, as well as Modern Retail of building materials & Home Improvement Mitra10, and Home Furnishing Atria.

KKES is active as an importer, stockist & distribution of commodity and specialty chemicals, food, construction chemicals and related materials. The Company is currently conducting business in the wholesale trading of basic chemical materials and goods, wholesale trading of various kinds of building materials and wholesale trading of machinery, equipment and other equipment where the company sees promising business opportunities in the field of chemicals for industrial and household purposes. ladder.

Broadly speaking, the company offers 6 series of products with several categories, namely:

1. Leather & Synthetic

2. Paint, Coating, Ink, Thinner, Plastic, PVC Pipes & Resin

3. Adhesive, Textile, Auxiliaries, Polymer, Rubber, Foam, Sole, Yarn & Fiber

4. Food & Drinks

5. Construction Chemical & Aluminum Shop

6. Wood Finishing (Furniture, Door, Frame, Coffin, Instruments)

The Company currently serves sales through its offices in Jakarta, Bandung, Semarang, Surabaya and serves more than 2,300 customers supported by more than 9 principals who provide sole agents and more than 12 principals who have appointed as authorize distributors, as well as more than 15 principals who have appointed as authorized distributors. provide support supply so far. Their support so far, the company has distributed more than 1,000 products.