JAKARTA. PT Trimegah Bangun Persada Tbk (NCKL), the operator of nickel mines in South Halmahera, is preparing for its initial public offering (IPO).

In this corporate action, NCKL plans to issue approximately 12.09 billion shares, equal to 18% of its issued and paid-up capital post-IPO. Each share has a face value of IDR 100, whereas the offering price is set to IDR 1,220-1,250 per share.

Assuming that the company will proceed with a selling price of IDR 1,250 per share, NCKL will potentially gain fresh funds of up to IDR 15.12 trillion from the IPO.

The book building phase of NCKL'S IPO process is scheduled to start from March 15 to 24, 2023. Then, the public offering period will follow from April 5 to 10, 2023, before finally being listed on April 12, 2023.

According to the official statement received by IDNFinancials, NCKL will allocate approximately 32.7% of IPO proceeds to cover its subsidiaries' needs. Then, another 38.08% of them will be channelled to its working capital, leaving the remainder to pay back some of its debts to the creditors. (KR/ZH)