KONTAN.CO.ID - JAKARTA. PT Intra Golflink Resorts Tbk (GOLF) has completed the initial public offering (bookbuilding) phase from June 20 to June 25, 2024. GOLF received effective statements from the Financial Services Authority (OJK) on June 28, 2024.
As a result, GOLF will issue 1.95 billion shares, equivalent to 10.01% of the total issued and fully paid-up capital after the Initial Public Offering (IPO). In this initial public offering, GOLF set the price at Rp 200 per share.
Consequently, the company, owned by Tommy Soeharto's son, will secure fresh funds amounting to Rp 390 billion. For the IPO, GOLF appointed PT KB Valbury Sekuritas, PT Samuel Sekuritas Indonesia, PT Semesta Indovest Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk as joint lead underwriters for the securities issuance.
Vice President of Investment Banking at PT Samuel Sekuritas Indonesia, Nyoman Widita Prabawa, stated that the IPO price and the number of shares offered were determined based on agreements between the prospective issuer and the joint lead underwriters. This decision took into account the serious interest from long-term investors who believe in GOLF's business prospects and performance.
"We, as Joint Lead Underwriters and the management of Intra Golflink Resorts, aim to maintain the long-term value of GOLF shares in the secondary market and protect the interests of long-term investors amidst market uncertainties," Nyoman said in a press release received by Kontan.co.id on Monday (1/7).
Nyoman added that setting the price and the number of shares offered aimed to increase investor participation and ensure liquidity in GOLF shares.
Managing Director of Intra Golflink Resorts, Dwi Febri Astuti, affirmed that the company would execute the investment plans outlined in the prospectus as intended. GOLF plans to allocate 87.53% of the IPO proceeds to capital injections into its subsidiary, PT New Kuta Golf and Ocean View (NKG).
NKG manages golf and property businesses, including luxury hotels in Bali. Additionally, approximately 5.34% will be used for capital injections into another subsidiary, PT Sentul Golf Utama (SGU). The remaining 7.13% will finance the company's operational activities.
Dwi further mentioned that the development of the six-star Luxury Boutique Hotel at Hole 15-The Cliff Hanger and the New Kuta Golf Villa, along with its supporting facilities in the Pecatu Indah Resort area, Jimbaran, Bali, has already commenced.
"The IPO funds are sufficient to finance the initial development," Dwi explained.
Dwi stated that the prestigious project's development is phased and projected to be completed by 2026. Dwi believes that these projects will enhance GOLF's revenue and profit in the future.
Chairman of Intra Golflink Resorts, Darma Mangkuluhur Hutomo, is optimistic about GOLF's prospects, considering the company's performance growth and positive trends in the global and regional golf industry.
"We are confident in optimizing existing potential to achieve sustainable growth and innovation through the three golf courses we manage and own directly or through associated entities," Darma stated.
These golf courses include Palm Hills Golf Club Bogor managed through SGU, New Kuta Golf Bali under NKG's control, and Black Rocks Hotel & Golf Club Belitung owned through an associated entity, PT Belitung Golf and Resorts.
GOLF will commence offering IPO shares to the public from July 2 to July 4, 2024. The company aims for its shares to be listed on the Indonesia Stock Exchange on July 8, 2024.
Source: investasi.kontan.co.id
Update Saham
