JAKARTA. PT Delta Giri Wacana Tbk (DGWG) will finally put its initial public offering (IPO) plan in motion by issuing 1.66 billion shares after having it mapped out since mid-last year.

In the issued prospectus, this fertiliser and agrochemical wholesale trading company is said to set the IPO price within the range of IDR 420 to IDR 620 per share.

Assuming that the exercise price is set to the upper range, DGWG will potentially book fresh funds of IDR 1.03 trillion from IPO.

For the record, total shares offered by DGWG in its IPO will be equal to 25% of its issued and paid-up capital, in which one share has a face value of IDR 100 each.

DGWG plans to allocate 54.7% of IPO proceeds as capital boost for PT Fertilizer Inti Technology. Then, another 8.9% will be channelled, also as capital investment, to PT Dharma Guna Wibawa. Furthermore, 33.1% of the proceeds will be used for working capital and capital expenditure (capex), leaving the remaining amount as investment in PT Semesta Alam Sejati.

The book building of DGWG’s shares will take place from December 2 to 16, 2024, followed by public offering on December 27, and the listing on Indonesia Stock Exchange (IDX) on January 10, 2024.

For the record, the assigned joint underwriters for DGWG’s IPO include PT BRI Danareksa Sekuritas, PT Samuel Sekuritas Indonesia, and PT Shinhan Sekuritas Indonesia. (KR/ZH)