PT Adhi Kartiko Pratama Tbk (NICE) targets an increase in nickel production after the company is listed on the Exchange.

The 3rd listed company on the Indonesia Stock Exchange (IDX) in 2024, it aims for production of 2.5 million metric tons of nickel per year. "In 2023 we reached 2 million metric tons, so after this we will increase to 2.5 million metric tons," NICE President Director Stevanno Rizki Adranacus told reporters at the Indonesia Stock Exchange Building Jakarta on Tuesday (01/09/2024).

To increase production, continued Stevanno, the company will explore new nickel mines in the next five years. In this case, the company has prepared funds derived from the company's internal cash.

"We will use the internal power of the company, because we currently have no debt. So for exploration funds, we will use internal cash," continued Stevanno.

For information, the company conducted an initial public offering (IPO) by offering 1.21 billion shares of PT Sungai Mas Minerals (SMM) and PT Inti Mega Ventura abbreviated as PT IMEV (formerly PT Mitra Marina Internasional) (IMEV).

All shares offered in the initial public offering belong to the selling shareholders. Therefore, all proceeds from the initial public offering will be received by the selling shareholders and the company will not receive the proceeds from the initial public offering.

"This corporate action is an important step for us to realize our vision to become a leading player in nickel ore mining and processing in Indonesia. This is also in line with our commitment to support Indonesia's long-term plan related to nickel downstream," said Stevanno.

Once listed on the stock exchange, NICE will also begin a new phase with the entry of LX International Corp as the new controlling shareholder of NICE (through PT Energy Battery Indonesia). LX International Corp will own 60% of NICE at the same acquisition price as the IPO price.

The presence of PT LX International Corp is a strategy to increase corporate value through the management of company resources in the ecosystem and supply chain of the nickel processing industry and electric vehicle batteries.

Image source: EmitenNews.com

Source: www.emitennews.com/Adhi Kartiko (NICE) Bidik Produksi Nikel 2,5 Juta Metrik Ton per Tahun