JAKARTA - PT Homeco Victoria Makmur Tbk (LIVE), a stationery and drawing tool distributor, eyes fresh funds in capital market to pay off obligations to banks. The initial public offering (IPO) is scheduled to last from February 2-6, 2024.

In the issued prospectus quoted today (23/1), this issuer is planning to offer 808.35 million shares for a price ranging from IDR 136 to IDR 181 per share, totalling to maximum proceeds of IDR 146.31 billion. The proceeds raised will be used for working capital and refinancing some obligations of the company and its subsidiary, PT Trisinar Indopratama (TSI), to PT Bank Central Asia Tbk (BBCA).

The obligations to be paid off by LIVE include some portion of its revolving credit to BCA and TSI, of IDR 25 billion each, with an interest rate of 8.25% per annum. The remaining debts of TSI will be down to IDR 18.97 billion after this payment to BCA.

As of now, authorised capital of LIVE is IDR 361.44 billion, while the stock in its portfolio is IDR 266.82 billion. Its issued and paid-up capital is IDR 94.61 billion, with shareholder structure consisting of PT Homeco Global Investasi (HGI) of 95.49%, Abraham Satya Putera and Krisna Murti of 1.322% each, and others of below 0.3%.

The assigned lead underwriters are PT Binaartha Sekuritas and PT Samuel Sekuritas Indonesia. (LK/ZH)