JAKARTA. PT Trimegah Bangun Persada Tbk (NCKL), a nickel mining company operating in South Halmahera, has named the offering price for its initial public offering (IPO) to IDR 1,250 per share.

Said price level is in the upper portion of the book building price range set by NCKL last month, which falls between IDR 1,220 and IDR 1,250 per share. With this offering price, NCKL will raise fresh funds of IDR 9.99 trillion at the end of this corporate action.

The public offering of NCKL is scheduled to take place from April 5 to 10, 2023, before being electronically distributed on April 11, 2023. Then, the public listing on Indonesia Stock Exchange (IDX) will follow on April 12, 2023.

The joint lead underwriters assigned by NCKL include PT BNP Paribas Sekuritas Indonesia, PT Citigroup Sekuritas Indonesia, PT Credit Suisse Sekuritas Indonesia, and PT Mandiri Sekuritas. Meanwhile, the underwriters that follow are PT DBS Vickers Sekuritas Indonesia, PT OCBC Sekuritas Indonesia, and PT UOB Kay Hian Sekuritas.

As mentioned before, NCKL plans to allocate approximately 50.4% of the IPO proceeds for its subsidiaries’ needs, channelled through additional investment and loans. Then, another 3.5% will be used as working capital, leaving the remainder to pay off loans. (KR/ZH)