JAKARTA. PT Adhi Kartiko Pratama Tbk (NICE), a nickel ore mining company, will begin its initial public offering (IPO) of 1.21 billion shares in Indonesia Stock Exchange (IDX).

The number of shares issued by NICE is equal to 20% of its total issued and paid-up capital. Each share has a face value of IDR 10 each, and will be offered for a price ranging between IDR 430 and IDR 530 per share.

Assuming that the offering price is set to the highest, IDR 530 per share, NICE may potentially raise IDR 644.69 billion of fresh funds from its IPO.

NICE has assigned PT KB Valbury Sekuritas, PT Trimegah Sekuritas Indonesia Tbk (TRIM), and PT UOB Kay Hian Sekuritas as joint underwriters. The bookbuilding is underway, and will last until December 21. Then, the public offering is set to January 3-5, 2024, followed by the stock listing on January 9, 2024.

As of June 30, 2022, 51% of NICE is under the control of PT Sungai Mas Minerals. Then, another 48.18% of shares belong to PT Inti Mega Ventura, leaving the remainder to be shared amongst directors and commissioners of the company. (KR/ZH)