Patok Harga Rp1,250, Hillcon Pastikan Melantai Di Bursa 1 Maret

Illustration of Rupiah (Photo: Doc. Antara)

JAKARTA - The coal and nickel mining contractor company, PT Hillcon Tbk (HILL) has confirmed that it will hold an initial public offering (IPO) by setting a public offering price of IDR 1,250 per share and registering its shares on the Indonesia Stock Exchange (IDX) on March 1, 2023.

Quoting between, Wednesday, February 22, Hillcon held a public offering period on February 23-27, 2023 by releasing 442.3 million shares or 15 percent, so the funds to be achieved are targeted at IDR 552.87 billion.

The prospective issuer for coal and nickel mining contractors will use 55 percent of the proceeds from the IPO for mining production costs, including fuel costs, overhead and maintenance of all equipment.

The remaining 45 percent will be used for capital expenditures or capex for purchases of heavy equipment such as playing fleets and supporting fleets that support HS' operational activities in the nickel sector.

In this IPO, Mirae Asset Sekuritas and Sucor Sekuritas act as underwriters for the issuance of securities, while, Macquaire Sekuritas Indonesia is the underwriter.

Hillcon is targeting to achieve a net profit of around IDR 700 billion by 2023, after the company conducts an IPO.

"The company targets this year's revenue growth to reach 1.5 times to 2 times from the previous year and is expected to print a net profit of around IDR 700 billion," said Director Hillcon Jaya Andika.

For information, Hillcon's public offering period has been delayed a few days from its initial schedule forecast.

The company held an initial bid (bookbuilding) which was originally scheduled for January 12 to 26, 2023 but changed until February 3.

Indication of the effective date on February 15 and the public offering period on February 17-21, 2023, as well as the recording date were originally planned for February 23, 2023.