Bisnis.com, JAKARTA - The Indonesia Stock Exchange (IDX) has welcomed a new issuer. This time, PT Oscar Mitra Sukses Sejahtera Tbk. (OLIV) will conduct an initial public offering (IPO) with a bookbuilding price of Rp100-Rp125. Entering the consumer non-cyclicals sector, specifically the household products sub-sector, the furniture manufacturer and distributor Oscar Living will release 400 million shares or equivalent to 21.1 percent of the shares with a nominal value of Rp10 per share. With an initial offering price between Rp100-Rp125, this prospective issuer with the code OLIV is expected to raise IPO funds between Rp40 billion and Rp50 billion. Furthermore, the administrative participant is Danatama Makmur Sekuritas, which also acts as the underwriter for the securities issuance. The bookbuilding period will be conducted for 10 days from April 4, 2022, to April 14, 2022.

OLIV also issued series I warrants in conjunction with the IPO, totaling 400 million series I warrants, representing up to 26.67 percent of the total shares placed and paid up. The series I warrants grant the holders the right to purchase common shares in the name with a nominal value of Rp10 per warrant, which can be exercised starting 6 months from the issuance of the series I warrants by the company from October 24, 2022, to April 28, 2023.

The execution price of the Series I warrants will be determined later. For every purchase of one share of the company's IPO, investors are entitled to 1 Series I warrant. Furthermore, all funds obtained from this IPO, after deducting issuance costs, will be used approximately 11.78 percent for capital expenditures related to warehouse renovations and strengthening the trading network of furniture products by adding an own-fleet of trucks. At the time this prospectus is published, the Company is still in the stage of exploring parties to be appointed as counterparties to the Company. The Company estimates the timeframe for the use of funds to be around 2 years. Subsequently, the remaining approximately 88.22 percent will be used as working capital in the form of inventory purchases, employee salaries, and marketing activities. The use of funds from this Public Offering also includes the leasing of new warehouses. At the time this prospectus is published, the Company is still in the stage of exploring several options for the locations of these new warehouses, which will be located in various cities in Indonesia.

The funds obtained by the Company from the implementation of Series I Warrants will be entirely used for working capital in the form of inventory purchases, employee salaries, and marketing activities. The Company is engaged in the online furniture trade. As one of the pioneers in online sales, the Company has been invited to collaborate with various marketplaces, one of which is JD.ID. The Company received an award as the first furniture store in that marketplace. Initially, the company used this opportunity as an additional sales channel for its business activities. However, with the increasing trend of online shopping and the prolonged impact of the Covid-19 pandemic, online sales have become one of the largest contributions to the Company's sales. The Company continues to add various new products, both brands and sub-categories such as Laundry & Cleaning, Baby Furniture, Plastic Furniture, to complement the company's portfolio aimed at increasing sales.