JAKARTA – PT Mitra Pack Tbk (PTMP) has agreed to become the distributor of several packaging products from two foreign suppliers, Markem Imaje Singapore Pte Ltd and Thermo Ramsey LLC, from Singapore.

According to the prospectus quoted Wednesday (1/3), the packaging product distribution contract is not an exclusive contract. The money used for this deal will be sourced out of its initial public offering (IPO) proceeds. Furthermore, the IPO proceeds will also be allocated to cover costs of regular goods, including purchasing consumables, printers, and spare parts.

The IPO has taken place since earlier this week (27/2) and will end tomorrow on March 2, 2023. PTMP is issuing 800 million shares of IDR 25 each, which are being offered for IDR 120 per share. Thus, its IPO is expected to raise IDR 96 billion of fresh funds. (LK/ZH)