JAKARTA – Two giant companies in the nickel industry will make their debut on the Indonesia Stock Exchange in April. Moreover, PT Trimegah Bangun Persada Tbk (NCKL)'s IPO schedule is only about a week away from PT Merdeka Battery Materials Tbk (MBMA).

The two companies both have a focus on mining areas in eastern Indonesia. NCKL and its subsidiaries, which focus on nickel ore mining, manage the mining area in Kawasi and Loji on Obi Island, North Maluku, with an area of ​​5,523.99 hectares, not including several other project prospects.

On the other hand, MBMA has a group of companies, called the MBM Group, which are engaged in vertically integrated nickel and other minerals. Its mining operations are located in the Morowali Industrial Area, Central Sulawesi, and in Konawe, Southeast Sulawesi. The Konawe nickel mine is being operated under an IUP owned by PT Sulawesi Cahaya Mineral, one of its subsidiaries.

NCKL is supported by PT Harita Jayaraya as its controlling share under the Harita Group. Harita Group itself is an Indonesian conglomerate focused on the natural resources industry, which until now is controlled and owned by the Lim family.

Meanwhile, MBMA has the support of PT Merdeka Copper Gold Tbk (MDKA) as its indirect controller. Well-known Indonesian businessman, Garibaldi Thohir is also listed as one of the main investors of MBMA.

In terms of financial performance, as of September 30, 2022, MBMA recorded a consolidated profit for the year of US$ 32.47 million, equivalent to IDR 487 billion using an exchange rate of IDR 15,000 per USD. Meanwhile, in the same period, NCKL has posted a consolidated profit for the current year of IDR 5.3 trillion.

NCKL has set the IPO price at IDR 1,220-1,250 per share of the more than 12 billion shares to be offered to the public. Meanwhile, MBMA, which is in the middle of carrying out its IPO book building, will offer 11 billion shares at IDR 780-795 per share.

At the end of the corporate action, NCKL and MBMA will each receive fresh funds of IDR 15.12 trillion and IDR 8.75 trillion, respectively. For the record, MBMA will prepare an additional 1 billion shares if there are oversubscriptions, so that the company can achieve a maximum proceeds of IDR 9.62 trillion. (ZH/LM)