PT Trimegah Bangun Persada Tbk (NCKL) also known as Harita Nickel, will be holding an initial public offering (IPO) to fund its subsidiaries and associate companies.
The company mainly engages in nickel ore mining, with products ranging from saprolite, ferronickel, limonite, mixed hydroxide precipitate (MHP), nickel sulfate, and cobalt sulfate. The company’s nickel mine is located in the Obi Industrial Estate, which is part of the National Strategic Project since 2016. Harita Nickel has several subsidiaries including:
- PT Gane Permai Sentosa, in mining limonite nickel, and saprolite;
- PT Halmahera Jaya Ferronickel;
- PT Megah Surya Pertiwi, in ferronickel smelting;
- PT Halmahera Persada Lygend, in battery cathode producer; among others.
Harita Nickel will release shares to facilitate its debts
Harita Group plans to use the IPO for various needs, mostly for the purposes of subsidiaries and associations; payment of all debts for PT Bank OCBC NISP Tbk, PT Dwimuria Investama Andalan, PT Harita Jayaraja, and outstanding facility loans; Capital expenditure (Capex), Operational Expenditure (Opex); and employee stock allocation (ESA).
The IPO will be held on April 5 to April 10 at the Indonesia Stock Exchange (IDX) by releasing 7,997,600,000 shares or 12.67%, or below the maximum book-building limit of 12,095,341,463.
The company has set an IPO price of IDR 1,250 per share and is projected to obtain a maximum value of IDR 9.99 trillion.
Prior to the IPO, Harita Nickel was owned by PT Harita Jayaraya at 99%, and PT Citra Duta Jaya Makmur at 1%.
Meanwhile, 81.68% of shares of PT Harita Jayaraya are owned by PT Harita Guna Dharma Bhakti, 4.58% is owned by Lim Hariyanto Wijaya Sarwono, 2.74% is owned by Rita Indriawati, 6.42% is owned by Lim Gunawan Hariyanto, and 4.58% is owned by Lim Gunardi Hariyanto.
Underwriters for the issuance of securities will be carried out by BNP Paribas Sekuritas, Citigroup Sekuritas, Credit Suisse Sekuritas, and Mandiri Sekuritas. Meanwhile, the underwriters are DBS Vickers Sekuritas, OCBC Sekuritas, and UOB Kay Hian Sekuritas.
