The business entity of PT Sumber Global Energy Tbk.
(SGER), PT Sumber Mineral Global Abadi Tbk. (SMGA) plans to conduct
an initial public offering (IPO) in the near future.
Launching its official website, SMGA was established on
October 19, 2016 under the name PT Sumber Mineral Global Abadi. SMGA's business
activities include metal and ore trading, sand and nickel trading, cement,
lime, sand and stone wholesale trading, solid fuel and gas wholesale trading,
and other products.
Currently, SMGA's business activities focus on trading
nickel, limestone, and coal for domestic and export markets. The traded
products come from mines processed from the Mining Business License (IUP) in
cooperation with SMGA companies.
Currently, SMGA sells nickel and coal products to customers
in the domestic market. The nickel sales are made to companies such as PT Putra
Utama Sukses for 20,000 WMT per year and PT Huadi Nickel-Alloy Indonesia for
10,000 WMT per month.
Meanwhile, SMGA coal sales are carried out to PT Restu Usaha
Mandiri amounting to 50,000 MT per year, PT Merak Energi Indonesia amounting to
330,000 MT per year, and PT Indonesia Morowali Industrial Park 360,000 MT per
year.
Quoting the prospectus, SMGA said that currently it only has
one subsidiary, namely PT Jasatama Mandiri Sukses (JMS). JMS is engaged in
limestone mining.
SMGA said that JMS was established in 2021 and obtained IUP
for non-metallic mineral commodities, namely limestone for industry. JMS mining
activities are located in Bungku Pesisir District, Morowali Regency, Central
Sulawesi Province with an area of 85.73 Ha.
Based on the results of exploration that has been carried
out by JMS, limestone reserves owned by JMS are currently 300,000,000 tons with
an estimated mine age of around 150 years.
For information, in this IPO, SMGA targets fresh funds of as
much as IDR 175 billion to IDR 183.75 billion. SMGA set an offering price of
IDR 100 to IDR 105 in this IPO.
In its prospectus, SMGA plans to offer as many as 1.75 billion new shares which are ordinary shares in the name. The number of shares is equivalent to 20% of SMGA's paid-up and paid-up capital after the IPO.
Image source: SMGA
Source: www.market.bisnis.com/Grup SGER Sumber Mineral Global (SMGA) Bakal IPO, Simak Profilnya
