Through this agenda, BEER plans to earn fresh funds up to US$11.2 million, with an offered stock worth Rp200 – Rp220.
Heaptalk, Jakarta — PT Jobubu Jarum Minahasa Tbk (issuer code: BEER) has set up the strategic move of the corporation to perform an Initial Public Offering (IPO) and is scheduled to be listed on the Indonesia Stock Exchange (IDX) in the coming January 2023.
Referring to the company’s prospectus, BEER intends to release around 800,000 stocks with a nominal Rp10 per share. As it is known, the stock amount is equal to 20% of the issued and fully paid capital after the IPO. Furthermore, the company plans to offer shares in the range of Rp200 – Rp220 per stock. Through this corporate action, BEER expects to obtain capital of up to US$11.2 million, or approximately worth Rp176 billion.
BEER will utilize the IPO capital of 5.26%, or nearly US$593,490, for goods expenditure in the form of land from third parties with a location in Jetis Village, Tengaran District, Semarang Regency, Central Java, with an area of approximately 2 hectares, to build the production facility of the corporate.
Further, the company will allocate capital of around 6.11% or nearly US$688,914 to establish a production facility, including the factory building, infrastructure, raw material warehouse, and finished goods warehouse, excluding the production machine.
Meanwhile, BEER will use the remaining funds as the company’s working capital to contribute to the company’s business activities, including but not limited to purchasing raw materials. However, based on the company’s representative, if the company obtains insufficient capital from this IPO agenda, Jobobu Jarum plans to use internal cash or external funding from banks, financial institutions, or other sources.
In this critical agenda, BEER has appointed UOB Kay Hian Securities as the underwriter. As a result, the company will perform the public offering agenda from December 30th, 2022, to January 4th, 2023. Meanwhile, the listing period of the company on the Indonesia Stock Exchange is planned to be executed on January 6th, 2023.
Business performance of Jobobu Jarum 2022
According to the company’s financial report for May 2022, BEER has closed a significant revenue worth US$1.7 million, compared to the former of US$1.1 million in a similar period last year. Also, the company managed to record a current-year profit of US$327,636, compared to the previous result worth US$160,517.
In May 2022, the company possessed total assets worth US$3.5 million, enhancing the previous assets worth US$3.1 million per December last year. In addition, the total of the company’s liability has also developed, becoming US$967,948.
In terms of the company’s cash flow, BEER has accomplished a net cash flow of the operations activity worth US$224,462, a net cash flow of the investment activity of US$96,154, and a net cash flow of the funding activity worth US$40,029. As a result, the company’s cash and cash equivalent has enhanced worth US$89,734 per May 2022.
