Friday, December 8, 2017

Prima Cakrawala Abadi expects IPO price range of Rp 145 to Rp 155 a share

The company engaged in the the processing and distribution of small crab attaching, the PT Prima Cakrawala Abadi Tbk (PCA Foods) will conduct the initial public offering of shares (initial public offering/IPO) in the price range Rp145-Rp155 per share.

President Director of PCA Foods Raditya Vardhana in Jakarta, Thursday (7/12/2017) says that the company will take off as much as 466.6 million new shares, or about 40 percent of the capital that are placed and paid in full after the IPO.

"With the price range of the IPO was expected, we can grab the IPO funds of around Rp67,66 billion to Rp72,33 billion," he said.

He sets forth that about 30 percent of the IPO proceeds fund will be used for capital expenditures. And the rest will be used for working capital. The plan, the company will perform a repair factory, purchasing new equipment, construction of new facilities, as well as the purchase of raw materials.

In running his business, he conveys that it produces and provides canned small crab for companies in the United States (USA). The company's exports to the US since the beginning of the year until August 2017 of 292,291 kilograms (kg). While the previous year reaching 271,620 kg. In addition to the U.S. the company also exports to the United Kingdom, Bahrain, Singapore and Malaysia.

"Since the company exports in 2014, the company already has regular customers. The majority of customers are located in several states in the U.S., namely Florida, Boston, New york, and Baltimore, "he explained.

In the corporate actions that, PCA Foods appoints Artha Securities Indonesia and Lotus Andalan Securities as guarantors of implementing emissions. The company expects the get statement is effective from the financial services authority (OJK) on December 19, 2017, and is recorded in the Indonesia stock exchange on December 28th, 2017.