ISSUER - JAKARTA. The share price of PT Dewata Freightinternational Tbk (DEAL) surged in the first day of trading, Friday (9/11). DEAL's stock price rose 69.33% to Rp 264 per share from Rp 150 per share. DEAL is the 50th issuer listed on the Indonesia Stock Exchange this year.
The transportation management company offers 300 million ordinary shares or 26.79% of the issued and fully paid capital after the public offering. With an offer price of Rp 150 per share, DEAL earns Rp 45 billion in fresh funds.
DEAL also issues series I warrant a maximum of 7.32% of the issued and fully paid capital at an implementation price of Rp 187. Through the issuance of this warrants, Dewata will receive funds of Rp 11.22 billion.
DEAL will use IPO funds worth Rp 16 billion for the subsidiary capital of PT Dewata Makmur Bersama. DEAL will utilize the remaining IPO funds for working capital.
DEAL President Director Bimada explained, the company plans to develop a gas-based Independent Power Producer (IPP) outside Java through its subsidiary PT Dewata Makmur Bersama. Thus, DEAL can create requests related to business activities.
As of April 30, 2018, Dewata has a DER rate of 1.5 times, ROA of 0.1%, and ROE of 0.2%. (Translator: Barratut Taqiyyah Rafie)
