> KONTAN.CO.ID - JAKARTA. Shares of PT Oscar Mitra Sukses Sejahtera Tbk turned green during their first trading, Tuesday (17/5). The issuer listed with the stock code OLIV increased 9% to IDR 109 per share.
Just so you know, during the initial public offering of shares or initial public offering (IPO), each OLIV share was offered at a price of IDR 100 per share.
Investor enthusiasm for OLIV shares has been visible since its public offering. It was recorded that OLIV experienced oversubscription or oversubscribed more than 35 times in the public offering which was held on 9-12 May 2022.
The Jakarta-based issuer is offering 400 million shares or around 21.10% of the issued and fully paid capital. Each share was released at a price of IDR 100. So, the funds raised through this public offering reached IDR 40 billion.
The funds collected from this corporate action will be used to improve the company's performance, including for working capital, purchasing vehicles for delivery, opening new distribution warehouses, and rejuvenating existing warehouses.
It is hoped that this plan will boost the company's performance and increase OLIV sales in the future.
Apart from offering shares to the public, Oscar Mitra Sukses Sejahtera also issued 400 million warrants. For people who invest in the OLIV IPO, they are entitled to receive these warrants at a ratio of 1:1.
In other words, every new share purchased is accompanied by a warrant. The company plans to use the funds collected from the exercise of warrants for working capital.
President Director of PT Oscar Mitra Sukses Sejahtera Tbk Hendro Jap hopes that, with the implementation of this IPO, OLIV can continue to be the market leader for furniture traders, especially online, as well as taking part in the national digital and creative economy industry.
"With a strong capital structure and full support from the public, PT Oscar Mitra Sukses Sejahtera Tbk is ready to continue to be one of Indonesia's proud companies," he said in an official statement received by Kontan.co.id, Tuesday (17/5).
Just so you know, OLIV is an online furniture company with the Oscar Living brand. Through the current marketplace platform, OLIV has succeeded in changing the habits of Indonesian people to shop for "High Touch" products online.
This was achieved successfully due to marketing strategies and rich content supported by reliable and experienced human resources, making it easier for customers to become more independent in shopping.
With the Oscar Living brand, OLIV will continue to uphold the quality of the products and services offered in order to create comfort and convenience for customers shopping for furniture.
Oscar Living will also continue to add various new products, both brands and sub-categories such as Laundry & Cleaning, Baby Furniture, Plastic Furniture to complete the company's portfolio so that it can increase sales .
For your information, in 1984 PT Oscar Mitra Sukses Sejahtera Tbk started a business as a Trading Company (PD) under the name New Oscar, which at that time was led by Hioe Mie Tjen.
As time went by, the Company's leadership shifted to Hendro Jap as the second generation. During Hendro's leadership, it was decided to create the Company as a Limited Liability Company (PT) legal entity in 2009.
With more than 40 years of experience, the Company's reputation has earned the trust of the public, both suppliers and customers.
In the future, PT Oscar Mitra Sukses Sejahtera Tbk will continue to improve its performance by maintaining its commitment to always providing a variety of new products that are complete, high quality and affordable so that customers can rely on them.
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