JAKARTA. PT Hillcon Tbk (HILL), a mining contractor under Hillcon Equity Management, will pick up the initial public offering (IPO) plan that was postponed in 2022.

Based on the issued prospectus, the number of shares issued by HILL is 442.3 million units, which are equal to 15% of the issued and paid-up capital.

Each share has a face value of IDR 100, but will be offered for IDR 1,250 to IDR 2,000. Assuming that the price is set to IDR 2,000 per share, HILL might potentially gain IDR 884.6 billion at the end of this IPO.

HILL has assigned PT Mirae Asset Sekuritas Indonesia and PT Sucor Sekuritas as lead underwriters for this corporate action, while PT Macquarie Sekuritas Indonesia will step in as the underwriter.

The book-building phase of HILL’s IPO is scheduled to take place from January 12 to 26, 2023, while the public offering follows on February 9-13, 2023. The shares will then be listed on February 15, 2023.

Based on IDNFinancials report, HILL has been planned its debut through IPO since mid-2022. However, said plan must be pushed back as the company’s subsidiary faces the Suspension of Debt Payment Obligation (PKPU) lawsuit filed by the subsidiary of PT Intraco Penta Tbk (INTA). Thankfully, said lawsuit was dropped by INTA’s subsidiary. (KR/ZH)