By issuing a maximum of 1.07 million shares in IPO, Teguk is forecasted to obtain funds worth US$7.8 million.
Heaptalk, Jakarta — PT Platinum Wahab Nusantara Tbk (Teguk) has officially set its stocks in the Initial Public Offering (IPO) at Rp110 per share, with the public offering period on July 4th – 6th, 2023. Initially, this food and beverage company, with the issuer code TGUK offers its initial shares at a price range between Rp105 – Rp112 per stock.
This franchise company appoints Semesta Indovest Sekuritas as an underwriter and issues a maximum of 1.07 million shares in this IPO. This value equals 30% of the issued and fully paid capital after the IPO period. Therefore, according to the company’s prospectus, TGUK is forecasted to obtain funds worth US$7.8 million (around Rp117,85 billion) during the IPO period.
Besides issuing its new shares, this F&B franchise offered a series I warrant of 428.57 million (17.14%) of the total issued and fully paid shares after the IPO. This warrant has a ratio of 5:1 to TGUK’s shares, with the enforcement price at Rp152 per warrant. Through the Series l warrant offering, Teguk will generate funds worth Rp65.14 billion.
Based on the management team, from the IPO momentum, TGUK plans to utilize the funds for the capital expenditure at 60% devoted to developing and augmenting its outlets in several areas. Meanwhile, around 40% of the remaining funds will be allocated as working capital.
While the funds obtained by the company from the results of the series l warrant offering will all be used by the company as the company’s working capital to fulfill the company’s operational needs.
In this IPO agenda, TGUK will conduct an allotment period on July 6th, 2023, electronic distribution of shares on July 7th, 2023, and listing of shares and Series I Warrants on the IDX on July 10th, 2023.
A business outgrowth of Teguk
As cited in its annual report, TGUK encountered an increase in revenue and net profit throughout 2022. This franchise managed to record a revenue of 15.37%, to IDR 128.30 billion, compared to the previous year of Rp111.21 billion. The enhancement of sales in the beverage segment at Rp120.34 billion and the food segment worth Rp7.95 billion backed the company’s revenue significantly.
Meanwhile, TGUK’s cost of revenue was Rp50.28 billion, elevating 1.29% compared to the earlier year of Rp49.64 billion. As a result, the company recorded a gross profit of Rp78.02 billion, uplifting 26.72% compared to the previous output worth Rp61.56 billion. In terms of the company’s net profit, Teguk has increased its net profit to 46.37%, attaining Rp12.64 billion in 2022, compared to the former of only Rp8.63 billion in 2021.
Hitherto, TEGUK already has more than 150 outlets throughout Indonesia and has successfully expanded to New York, United States.