Initial Public Offering of PT Nusa Palapa Gemilang Tbk
Sidoarjo, April 14, 2021 – PT Nusa Palapa Gemilang Tbk (the “Company”), a company from Sidoarjo, East Java, which is engaged in Production, Marketing, and Trading of Compound Artificial Fertilizers of Macro-Primary Nutrients; held an Initial Public Offering (“IPO”) by releasing as many as 648,047,200 (six hundred forty-eight million forty-seven thousand two hundred) new shares which are Common Shares on behalf of which all are new shares issued from Company portfolio with a nominal value of Rp50,- (fifty Rupiah) per share or as much as 20% (twenty percent) of the issued and fully paid-up capital in the Company after the Initial Public Offering, which is issued from the Company's deposit (portfolio), which is offered to Public with an Offer Price of Rp. 100, - (one hundred Rupiah) per share. In the context of the IPO, the Company has appointed PT UOB Kay Hian Sekuritas as the Managing Underwriter.
Uus Sudianto, President Director of the Company, explained, “The Company's move to be listed on the Indonesia Stock Exchange (IDX) through an IPO is part of the Company's strategy to increase the Company's funding capacity and to improve the Company's governance to be even better in the times to come. come. The Company's performance up to September 2020 has recorded positive revenue growth despite the COVID-19 pandemic that has spread globally. The Company remains optimistic that the current business prospects will still be positive in the future!”
Furthermore, Uus said, “This can be seen from the growth in demand for NPK fertilizer from oil palm plantations as a result of improving international CPO prices. Overall, the growth of the non-oil and gas sector from the basic and chemical industries continued to increase to 14.96% until the third quarter of 2020 ago.”
Daud Gunawan, Head of Corporate Finance at PT UOB Kay Hian Sekuritas who is the Managing Underwriter, explained, "The company has obtained an Effective Permit from the Financial Services Authority (OJK) on March 29, 2021. During the public offering period from March 31 to 7 April 2021, shares of PT Nusa Palapa Gemilang Tbk received quite positive interest from investors where the number of incoming requests was oversubscribed up to 3.97x of the total number of share offerings offered in the Company's IPO. Furthermore, the Company will receive fresh funds from the IPO amounting to Rp64.8 billion, of which 82% of the funds obtained by the Company will be used for land acquisition; as much as 17% will be used to pay off the purchase of production machines; and the rest will be used for the Company's working capital, namely the purchase of production raw materials.” Furthermore, Daud said, "We believe that the business expansion plan funded from the Company's IPO will have a positive effect on the continuity and prospects of the Company's business going forward!"
Uus Sudianto, President Director of the Company, explained, “The Company's move to be listed on the Indonesia Stock Exchange (IDX) through an IPO is part of the Company's strategy to increase the Company's funding capacity and to improve the Company's governance to be even better in the times to come. come. The Company's performance up to September 2020 has recorded positive revenue growth despite the COVID-19 pandemic that has spread globally. The Company remains optimistic that the current business prospects will still be positive in the future!”
Furthermore, Uus said, “This can be seen from the growth in demand for NPK fertilizer from oil palm plantations as a result of improving international CPO prices. Overall, the growth of the non-oil and gas sector from the basic and chemical industries continued to increase to 14.96% until the third quarter of 2020 ago.”
Daud Gunawan, Head of Corporate Finance at PT UOB Kay Hian Sekuritas who is the Managing Underwriter, explained, "The company has obtained an Effective Permit from the Financial Services Authority (OJK) on March 29, 2021. During the public offering period from March 31 to 7 April 2021, shares of PT Nusa Palapa Gemilang Tbk received quite positive interest from investors where the number of incoming requests was oversubscribed up to 3.97x of the total number of share offerings offered in the Company's IPO. Furthermore, the Company will receive fresh funds from the IPO amounting to Rp64.8 billion, of which 82% of the funds obtained by the Company will be used for land acquisition; as much as 17% will be used to pay off the purchase of production machines; and the rest will be used for the Company's working capital, namely the purchase of production raw materials.” Furthermore, Daud said, "We believe that the business expansion plan funded from the Company's IPO will have a positive effect on the continuity and prospects of the Company's business going forward!"
