JAKARTA – PT Raja Roti Cemerlang Tbk (BRRC), a producer of breadcrumbs, officially debuted on the Indonesia Stock Exchange on Thursday (9/1).

In its first trading session, BRRC shares rose by 18.1%, reaching IDR 248 per share at 9 AM WIB.

Through its Initial Public Offering (IPO), the company offered around 291.5 million shares, representing 30.01% of its total listed shares. BRRC set the IPO price at IDR 210 per share, successfully raising IDR 61.22 billion in fresh capital.

In conjunction with its stock listing, BRRC also issued up to 145.75 million Series I Warrants alongside its new shares, which equates to a maximum of 21.43% of the total shares issued and fully paid at the time of the IPO registration.

“Series I Warrants are given free of charge as an incentive to new shareholders listed on the allotment date,” management stated in a prospectus released on Wednesday (8/1).

Every holder of 2 new BRRC shares is entitled to 1 Series I Warrant. Each Series I Warrant grants the holder the right to purchase 1 new BRRC share at IDR 25 per share. The exercise price is set at IDR 210 per share.

The Series I Warrants have a validity period of 1 year, and the rights can be exercised between 6 months after the issue date, from July 9, 2025, to January 9, 2026.

It should be noted that Series I Warrant holders do not have shareholder rights, including dividend rights, unless the warrants are exercised into shares.

If the Series I Warrants are not exercised by the expiration date, they will become void, worthless, and invalid. The validity period cannot be extended.

“The total potential funds from the Series I Warrants are up to IDR 30.60 billion,” management disclosed.

After deducting securities issuance costs, all funds raised from the IPO will be used entirely for working capital. This will include increasing raw material stock and covering operational expenses such as labor costs and energy, including gas and electricity. (DK)