INITIAL PUBLIC OFFERING (IPO) OF PT SINERGI INTI PLASTINDO TBK

By Admin 8 August 2019

November 08, 2019 Britama.com.
Initial Public Offering (IPO) of PT Sinergi Inti Plastindo Tbk (ESIP) was conducted by PT UOB Kay Hian Securities (AI) and PT NongHyup Korindo Securities Indonesia (XA) as the Insurance Underwriters. Number of shares offered in the IPO are 190 million new shares pieces with a Nominal Value of Rp50,- and the Offer Price of Rp163,- per share and total 152 million Series I Warrants pieces accompanying the new shares whose names are listed in the list of IPO allotment, namely on November12, 2019.

Each holder of 5 new shares is entitled to 4 warrants, where each 1 warrant entitles its holder to purchase 1 new share with nominal value of Rp 50,- per share with an exercise price of Rp240,- per share. Planned use of funds obtained from the Initial Public Offering, after deducting the costs related to the share issuance, will be used entirely for the purchase of land and buildings. Land and buildings will be used by the Company as a factory to increase production capacity and sales volume of the Company. PT Sinergi Inti Plastindo was founded in 2001.

The head office of PT Sinergi Inti Plastindo located in Komp. Kapuk Lestari No. 12F, Jl. Kapuk Raya, North Jakarta 11720, Indonesia. The scope of business activities of PT Sinergi Inti Plastindo is engaged in the plastic packaging manufacturer, another plastic manufacturer, large trading of rubbers and plastics in primary forms, and large trading ofanother products. Today, the products produced by PT Sinergi Inti Plastindo are High Density Polyethylene (HDPE, this "HD Plastic" is widely used daily for packaging, plastic bags, hand bag, wrapping of fruits, vegetable broth, and others. It is strong, rigid, and heat-resistant plastic).

And Low Density Polyethylene (LDPE, this type of plastic commonly used for packaging of cooking oil, or cold snack foods). Prior to the Initial Public Offering, PT Sinergi Inti Plastindo shares owned by PT Tanindo Omega Pasifik (78.76%) and Eric Budisetio Kurniawan (21.24%). Tags: ESIP

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