Officially listed on the stock exchange, Dana Brata Luhur (TEBE) shares shot 49.77%
Published: 20 Nov 2019
KONTAN.CO.ID - JAKARTA. PT Dana Brata Luhur Tbk officially took the floor at the Indonesia Stock Exchange (IDX) today, Monday (11/18). The issuer codenamed TEBE became the 46th issuer to register its shares on the stock exchange in 2019 and the 659th company listed on the IDX.
TEBE offers its first share at a price of Rp 1,096 per share. The shares issued are as many as 35 million new shares or represent 2.72% of all fully paid-up capital after the Initial Public Offering (IPO) and the Mandatory Convertible Loan (MCL) or mandatory convertible loans.
From the results of this IPO, TEBE reaped fresh funds worth Rp 38.36 billion.
In addition to the IPO, TEBE will also issue new shares in the context of implementing the MCL conversion of 250 million shares or Rp. 274 billion. This amount is equivalent to 20% of all total paid-up capital before the IPO or 19.64% of the total paid-up capital after the IPO.
Thus, the percentage of public share ownership is 22.18% of the total issued and paid-up capital after the IPO and MCL process.
Director of Dana Brata Luhur Dian Heryandi said TEBE's move to conduct an IPO was part of the company's efforts to achieve TEBE's vision and mission to be the leading integrated coal infrastructure and transportation service provider company in Indonesia.
"The entry of companies into the capital market is one of the efforts to strengthen the capital structure, improve corporate governance, and open wider access to funding sources in the capital market," he said in Jakarta, Monday (17/11).
Meanwhile, Hendy Narindra, Director of TEBE, said that the IPO proceeds will be used to develop the company's business, with 80% of which is used for the capital needs of the subsidiary, PT Talenta Bumi and the remaining 20% will be used by TEBE as working capital.
The public offering period took place on November 11, 2019, and received a positive response from investors. This is evidenced by the occurrence of oversubscribed as much as 3.65 times the total IPO shares or oversubscribed as much as 265.92 times the portion of pooling.
In the implementation of the IPO, Dana Brata Luhur took PT Victoria Sekuritas Indonesia and PT Surya Fajar Sekuritas as underwriters.
(This article has been aired on https://investasi.kontan.co.id/news/resmi-melantai-di-bursa-saham-dana-brata-luhur-tebe-melesat-4977)