PT Hillcon Tbk (HILL) will conduct an initial public offering (IPO) of a maximum of 2,211,500,000 new shares with a nominal value of Rp. 20 per share.
The number of shares offered represents a maximum of 15% of the total issued and fully paid capital after the IPO. The company priced the IPO offering between Rp 250-Rp 400 per share.
In its initial prospectus, the company targets the total value of the initial public offering to be as much as Rp 884.6 billion.
Acting as underwriters for the issuance of securities are PT BRI Danareksa Sekuritas, PT Mirae Asset Sekuritas Indonesia, and PT Sucor Sekuritas.
The current shareholders of HILL are PT Hillcon Equity Management at 81% and PT Bukit Persada Indonesia at 19%.
The Company is currently engaged in holding and management consulting as well as mining services business and construction services through subsidiaries.
The Company has extensive experience as a coal and mineral mining contractor, civil contractor, earthworks, river basin construction, and dams.
The entire proceeds from this initial public offering, after deducting issuance costs, will be used around 55% for working capital related to mining production costs, including costs related to fuel, salaries, overhead , and maintenance of heavy equipment. .
The remaining 45% will be used for capital expenditure which consists of purchasing equipment to support operational activities. The type of equipment to be purchased is in the form of heavy equipment and other supporting facilities.
The following is the temporary schedule for the IPO HILL:
Initial offer period: 15-29 June 2022
Estimated effective date: 12 July 2022
Estimated public offering period: 14 – 18 July 2022
Estimated allotment date: 18 July 2022
Estimated stock distribution date: July 19, 2022
Estimated listing date: 20 July 2022
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