Iconomics - PT Oscar Mitra Sukses Sejahtera Tbk (OLIV) officially became a listed company on the Indonesia Stock Exchange (BEI), Tuesday (17/5). Becoming the 20th listed company on the Stock Exchange this year, OLIV's share price rose slightly to IDR 101 per share on the first trading day, from the initial offering price of IDR 100 per share.
OLIV released 400 million shares to the public. With an initial offering price of IDR 100 per share, the Company raised IDR 40 billion from this initial share offering.
PT Oscar Mitra Sukses Sejahtera Tbk, which was founded in 2009, is a company that operates in the field of furniture trading for household goods and kitchen furnishings.
"We have a vision of becoming a leading online-based furniture company that provides various types of quality furniture produced by the nation's children to all corners of Indonesia. The products we offer are very diverse, from home living such as furniture for bedrooms, living rooms, kitchen equipment, to office furniture. "This is in line with our tagline, namely furniture shopping made easy where our customers can find their furniture needs quickly, easily and with quality," said Stephanie Andriana Suhanda, Operations Director of OLIV, at the initial share listing ceremony, Tuesday (17/5).
Stephanie said PT Oscar Mitra Sukses Sejahtera Tbk is committed to continuing to maintain the quality of the products offered and maintaining accuracy and speed of delivery times so as to provide customer satisfaction.
"As a company that is now listed on the Indonesia Stock Exchange, we have the opportunity to strengthen our capital structure which is also supported by the public. "With this support, we will continue to uphold our vision and become a leading furniture trader and be able to reach customers throughout the archipelago and offer useful products so that we can also contribute to the development of the nation and state," he said.
The majority, namely 88.22% of the proceeds from this public offering, will be used by the Company for working capital such as purchasing supplies, employee salaries and marketing activities. The use of public offering funds also includes renting new warehouses.
Then around 11.78% of the proceeds from the public offering were used for capital expenditures related to warehouse renovations and strengthening the trading network for furniture products by adding to its own-fleet fleet in the form of trucks.
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