Iconomics - PT Oscar Mitra Sukses Sejahtera Tbk (OLIV) officially became a listed company on the Indonesia Stock Exchange (IDX) on Tuesday (17/5). Becoming the 20th listed company on the Exchange this year, OLIV's share price rose slightly to Rp101 per share on the first day of trading, from the initial offering price of Rp100 per share.

OLIV released 400 million shares to the public. With an initial offering price of Rp100 per share, the Company raised Rp40 billion from this initial public offering.

PT Oscar Mitra Sukses Sejahtera Tbk, established in 2009, is a company engaged in the trade of furniture for household goods and kitchen equipment.

"We have a vision to become the leading online-based furniture company that provides a variety of quality furniture produced by the nation's children to all corners of Indonesia. The products we offer are very diverse, ranging from home living such as furniture for bedrooms, living rooms, kitchen equipment, to office furniture. This is in line with our tagline, which is making furniture shopping easy, where our customers can find their furniture needs quickly, easily, and with quality," said Stephanie Andriana Suhanda, Operational Director of OLIV, at the initial public offering ceremony on Tuesday (17/5).

Stephanie stated that PT Oscar Mitra Sukses Sejahtera Tbk is committed to continuously maintaining the quality of the products offered and ensuring the accuracy and speed of delivery times to provide satisfaction to customers.

"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 that support, we will continue to uphold our vision and become a leading furniture trader that can reach customers throughout the archipelago and offer beneficial products so that we can also contribute to the development of the nation and the state," he said.

Most of the funds from this public offering, amounting to 88.22%, will be used by the Company for working capital such as purchasing inventory, employee salaries, and marketing activities. The use of these public offering funds also includes the rental of new warehouses.

Then about 11.78% of the funds from the public offering are used for capital expenditures related to warehouse renovations and strengthening the trade network of furniture products by adding an own-fleet of trucks.

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