IPO Funds of IDR 119.63 billion, Homeco Victoria (LIVE) Targets Positive Performance

February 13, 2024, 12.19 AM  | Reporter: Noverius Laoli
IPO Funds of IDR 119.63 billion, Homeco Victoria (LIVE) Targets Positive Performance

ILUSTRASI. PT Homeco Victoria Makmur Tbk (LIVE) or Homeco Living.

ISSUER -  JAKARTA. PT Homeco Victoria Makmur Tbk (LIVE), a large trading company specializing in a variety of products ranging from household appliances to toys, has successfully listed on the Indonesia Stock Exchange (IDX).

LIVE offers a variety of kitchen equipment, cooking utensils, bags, stationery, and high-quality wet tissues to customers. 

As a parent company, LIVE also manages PT Trisinar Indopratama (TSI), which focuses on the production of various plastic goods such as packaging, children's toys, as well as plastic-based household appliances and equipment under the Technoplast brand. TSI itself has 24 years of business experience in providing quality products.

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Through the Initial Public Offering (IPO), LIVE has offered up to 808,350,000 shares with a nominal value of Rp 25 per share, equivalent to a maximum of 17.6% of the capital that has been placed and fully paid.

The IPO price of LIVE was set at Rp 148 per share, and LIVE raised fresh funds of Rp 119.63 billion through this IPO.

The President Commissioner of Homeco Victoria Makmur, Sjamsoe Fadjar, said that the company's revenue growth of 86.53% and net profit growth of 458% recorded throughout 2022 were the right reasons for the company to conduct an IPO. 

"Going forward, management will always strive to maintain the company's growth to increase value for shareholders," he said in his statement as quoted on Monday (12/2).

 

 

The company also plans to provide Employee Stock Options by offering up to 8,350,000 ordinary shares to employees through the Employee Stock Provision (ESA) program. To facilitate this corporate action, PT Binaartha Sekuritas and PT Samuel Sekuritas Indonesia have been appointed as securities underwriters.

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The funds obtained from the IPO will be used for various purposes, including company expansion, purchase of merchandise inventory, operational financing, and repayment of the company's maturing debt. 

Most of these funds will be allocated for debt repayment to PT Bank Central Asia Tbk (BCA) and to PT Trisinar Indopratama (TSI). The remainder will be used for business development in the form of working capital.

After the IPO, the ownership of Homeco Global Investasi will be diluted to 78.69%, while public ownership will reach 21.30%.

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With a variety of quality products and a commitment to meeting the lifestyle needs of customers, Homeco Living (LIVE) has successfully become a trusted destination for consumers looking for quality and style in household products.

In the first trading on Monday (12/2), the share price of LIVE closed up 17.57% to the level of Rp 174 per share.

Editor: Syamsul Azhar
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