PT Toba Bara Sejahtra Tbk, coal company listed on the Indonesia
Stock Exchange (BEI), setting a record price of shares of IDR1,900 and
pocketed up funds totaling IDR400.29 billion.
The price was publicized in an information disclosure submitted to PT
Indonesia Central Securities Depository (KSEI)./ The company will listing tomorow on the Indonesia
Stock Exchange.
The number of shares that will be released by the company is 210.68
million shares with a nominal value of IDR200 a share. With the number
of shares and the listing price, the IPO of the company scooped
IDR400.29 billion.
Previously, the company set its share price in the range of
IDR1,850-IDR2,000 in the early days of the bidding, so the pricing of
IDR1,900 was in the low range.
In a public offering or IPO (initial public offering), a company owned
Lieutenant General (Retired) Luhut Binsar Pandjaitan it intends to remove 15% of public shares, or
approximately 317.9 million shares.
With the IPO price range at IDR1,850-IDR2,400, the company targeted
IDR588 billion in funds of up to IDR763 billion. According to the plan,
the company intends to use TOBA as the stock code to these new shares.
Of the funds, amounting to 15% will be used to pay off the company's
loan facility to BNP Paribas, approximately 50% for mining capital
expenditure, and about 35% for the acquisition of mining concessions and
for working capital and exploration.
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