PT Alkindo Naratama Tbk set the final price of the initial public offering of 150 million shares, or 27.27% of paid up capital, at the level of Rp225 per share.
Thus the total funds will be obtained from the IPO was Rp33, 75 billion.
Sosiawanto toto, Senior Vice President at PT Erdikha Securities as the underwriter of the company, said the pricing is done based on the results of the initial offer (book building) conducted June 21 to 23.
"Our results are oversubscribed three times in which most choose the price of Rp225 per share," he said when contacted by Business Today.
He revealed Alkindo have pocketed an effective statement of the capital market authority on June 30. "Our offer of Schedule 4 to 6 July while listing planned on July 12," he explained.
Based on the IPO prospectus, Alkindo would use 5 billion from public offering to repay debt to Rp2 billion OCBC Bank NISP with interest of 10.5% per year and Rp 3 billion into Bank Danamon's interest 10.75%-ll% per year.
A total of Rp11 billion will be used by Alkindo for investment land area of 19,661 square meters in Padalarang, Bandung, which is currently leased by the company, while the acquisition of the remaining funds for working capital, primarily to purchase pulp and paper, the purchase of materials, payment of costs of production , and freight costs.
Alkindo, founded in 1990 in Bandung, is a manufacturer of yarn and fabrics (papertube), rolls for plastics, paper wrapping of the metal (papercore), and paper with a honeycomb structure (honeycomb) with a particular strength of materials that can be used for furniture products such as doors and tables.
Alkindo currently has two factories with a capacity of 35,000 tons per year and exporting papertube to Thailand and Malaysia.