>KONTAN.CO.ID - JAKARTA. Shares of PT Oscar Mitra Sukses Sejahtera Tbk turned green during its debut trading on Tuesday (17/5). The issuer, which listed under the stock code OLIV, rose by 9% to Rp 109 per share.
Just so you know, during the initial public offering or initial public offering (IPO), each OLIV share is offered at a price of Rp 100 per share.
Investor enthusiasm for OLIV shares has been evident since its initial public offering. It was recorded that OLIV experienced oversubscription of more than 35 times during the public offering held from May 9 to 12, 2022.
The Jakarta-based issuer is offering 400 million shares or about 21.10% of the paid-up and fully paid capital. Each share is released at a price of Rp 100. Thus, the funds raised through this public offering amount to Rp 40 billion.
The funds collected from the corporate action will be utilized to improve the company's performance, including for working capital, purchasing vehicles for delivery, opening new distribution warehouses, and renovating existing warehouses.
The plan is expected to drive the company's performance and increase OLIV's sales in the future.
"In addition to the public offering of shares, Oscar Mitra Sukses Sejahtera has also issued 400 million warrants. For the public who invest in the IPO of OLIV, they are entitled to receive the warrants at a ratio of 1:1."
In other words, each new share purchased comes with one warrant. The company plans to use the funds raised from the exercise of the warrants for working capital.
The President Director of PT Oscar Mitra Sukses Sejahtera Tbk, Hendro Jap, hopes that with the implementation of this IPO, OLIV can continue to be a market leader in furniture trading, especially online, and take 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 being one of Indonesia's pride companies," he stated in an official statement received by Kontan.co.id, Tuesday (17/5).
Just so you know, OLIV is an online-based furniture company with the brand Oscar Living. Through the existing marketplace platform, OLIV has successfully changed the shopping habits of the Indonesian people to purchase "High Touch" products online.
This was achieved due to the marketing strategy and wealth of 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 products and services offered 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 in order to increase sales.
Just for your information, in 1984 PT Oscar Mitra Sukses Sejahtera Tbk started its business as a Trading Company (PD) under the name New Oscar, which at that time was led by Hioe Mie Tjen.
As time went on, the leadership of the Company transitioned to Hendro Jap as the second generation. During Hendro's leadership, it was decided to establish the Company as a legal entity of a Limited Liability Company (PT) in 2009.
"With over 40 years of experience, the Company's reputation has gained the trust of the community, 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 provide a complete range of new, quality, and affordable products that can be relied upon by customers.
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