Profile of Nusantara Sawit Sejahtera, Ready for IPO and Targeting Funds of IDR 677.96 Billion

PT Nusantara Sawit Sejahtera Tbk (NSSS), a holding company and other management consulting activity sector issuer, will register its initial public offering (IPO) on March 10, 2023.

Quoting the prospectus, the NSS share price offered to the public is in the range of Rp. 122-190. Thus, the funds that will be collected by NSS will reach IDR 677.96 billion.

NSS’ majority shareholder is PT Mitra Agro Dharma Unggul, with pre-IPO ownership of 59.11 percent. Then, NSS Main Director Teguh Patriawan became the controlling share of 17.12 percent.

Then, PT Nusantara Makmur Lestari holds 10.75 percent of NSS shares. After that, Yantoni Kerisna held 6.14 percent of NSS shares.

The IPO funds will be channeled through an equity participation mechanism to three subsidiaries, namely PT Borneo Sawit Perdana (BSP) by 42.4 percent, PT Bina Sarana Sawit Utama (BSSU) will receive 47 percent for capital expenditure needs to carry out new planting of coconut plants. palm.

The remaining 10.6 percent of the IPO funds will be used by PT Prasetya Mitra Muda (PMM) for working capital in purchasing fertilizers and agricultural chemicals. While the funds obtained by the Company from the results of the exercise of the series I warrants will all be used for capital expenditures for subsidiaries with an equity participation mechanism.

Underwriters for the issuance of securities in the NSS IPO, namely PT BRI Danareksa Sekuritas, PT Mirae Asset Sekuritas Indonesia, PT Sucor Sekuritas and PT Samuel Sekuritas Indonesia.