JAKARTA – PT Nusantara Sawit Sejahtera Tbk (NSSS) managed to collect IDR 453.16 billion of fresh funds throughout the initial public offering (IPO) period from March 2 to 8, 2023. The issued shares clocked up to 3.56 billion units, which were offered for IDR 127 each.

During the initial listing event on Indonesia Stock Exchange (IDX) today (10/3), Teguh Patriawan, President Director of Nusantara Sawit Sejahtera, claimed that the company recorded 13.9 times of oversubscription. “It indicates immense interest that the public has towards the company’s shares,” he added in the press release.

NSSS also issued 1.78 billion units of series I warrants, which are equal to 8.82% of total issued and paid-up capital of NSSS post IPO. The owner of two new shares are eligible to receive one unit of series I warrant for IDR 190 per share. The total funds received by the company from the issuance of these warrants clock up to IDR 338.98 billion.

According to Patriawan, crude palm oil (CPO) business still possesses great potential in Indonesia. In September 2022, the company’s sales reached IDR 864.31 billion, 13.2% higher from IDR 763.38 billion seen in the same period last year. (LK/ZH)