JAKARTA – PT Delta Giri Wacana Tbk (DGWG), a producer of chemicals for the agricultural industry, officially listed on the Indonesia Stock Exchange (IDX) today (13/1).

DGWG offered 882.35 million shares with a nominal value of IDR 100 per share to the public, representing 15% of its issued and paid-up capital after the IPO.

With an offering price set at IDR 230 per share, the company projects to raise fresh capital amounting to IDR 202.94 billion post-IPO.

According to the final IPO prospectus, approximately 53.2% of the funds will be allocated as working capital for purchasing raw materials for pesticide production.

The remaining 46.8% will be injected into the company’s subsidiary, PT Fertilizer Inti Technology (FIT), which will use the capital for acquiring raw materials for fertilizer production.

DGWG is optimistic about the agricultural industry, which serves as a strong market for the company. "We are fully prepared with our entire supply chain and distribution," said David Yaory, President Director of DGWG, during an interview following the IPO today (13/1).

With this confidence, DGWG is targeting double-digit growth this year. "For net profit, we expect around 25%, and for revenue/sales, we are aiming for 15-20% growth," Yaory added.

As of 10:23 AM today (13/1), DGWG shares had already risen by 21.74%, reaching IDR 280 per share. (ZH)