JAKARTA. PT Sumber Mineral Global Abadi Tbk (SMGA), a nickel ore and coal trading company, has set its Initial Public Offering (IPO) share price at IDR 105 per share.

This price is right at the upper limit of the initial offer price (book building) previously submitted by SMGA. By setting this price, the company has the potential to gain fresh funds of up to IDR 183.75 billion from the IPO.

For the record, the number of shares offered by SMGA in the IPO is 1.75 billion shares. This is equivalent to 20% of the issued and fully paid capital after the IPO.

The public offering period will take place from Wednesday (24/1) today, until January 26 2024. Meanwhile, listing on the Indonesia Stock Exchange (BEI) will be carried out on January 30, 2024.

According to idnfinancials.com data, currently 90% of SMGA shares are controlled by PT Sumber Global Energy Tbk (SGER) and 10% of the shares are owned by Vivi Ramalyati Hutama. Later, after the IPO, public investors will own as much as 20% of the shares. (KR/LM)