Officially Listed On The IDX, BLES Secures Fresh Funds Of IDR 264 Billion
This article is adapted from Detik
"PT Superior Prima Sukses Tbk (Persero) today officially listed its shares on the Indonesia Stock Exchange under the stock code BLES. BLES conducted an initial public offering (IPO) of 1,313,824,000 shares, equivalent to 15% of the company's issued capital, to the public at an offering price of Rp 183 per share.
"BLES has appointed PT Lotus Andalan Sekuritas as the Lead Underwriter for the IPO process, which ran from July 1, 2024, to July 4, 2024. The IPO received strong interest and positive response from investors, with oversubscription reaching 80.15 times and attracting more than 37,000 investors, including individual, institutional, domestic, and foreign investors," said Henrianto, Commercial Director of PT Superior Prima Sukses Tbk (Persero), in a written statement on Monday, July 8, 2024.
Henrianto further explained that with the offered number of shares and price, BLES raised approximately IDR 264 billion in fresh funds from the IPO. These funds are intended for BLES's business expansion, including approximately Rp 100 billion for capital expenditure and the remainder for working capital.
Henrianto added that BLES is strategically positioned to capitalize on growth opportunities in Indonesia, supported by the company's distribution and sales network, currently encompassing 70 branches and over 13,000 registered outlets, as well as its capability to produce high-quality products.
He highlighted consumer confidence in BLES's product quality, evidenced by Blesscon receiving the Top Brand award consecutively for 4 years from 2021 to 2024.
"In 2023, as part of the SPS Corporate, the Company gained trust from Tancorp Group, a prominent group with a strong reputation, owned by Mr. Hermanto Tanoko, where through PT Tancorp Investama Mulia, Tancorp Group became a strategic partner and a shareholder holding 11.35% stake in the company. The synergy between SPS Corporate and Tancorp Group will further strengthen the company's performance and position as a market leader in the AAC lightweight brick industry," Henrianto stated.
To achieve sustainable business growth, Henrianto mentioned that the company continuously develops its business by expanding market penetration and sales of products, increasing production capacity in its owned factories, and planning to invest in a new factory (its 5th) in Central Java.
"Through these strategic initiatives and by consistently adhering to management strategies to produce high-quality and trusted products for consumers while maximizing its resources, the company projects to achieve exponential net sales growth of 28% in 2024 and 36% in 2025, following a 22.2% growth in net sales in 2023," he concluded.