Two New Issuers, PT Hero Global Investment Tbk and PT Raja Roti Cemerlang Tbk, Officially Listed on the Indonesian Stock Exchange

On Thursday, January 9 2025, PT Hero Global Investment Tbk (HGII) and PT Raja Roti Cemerlang Tbk (BRRC) officially listed their initial shares on the Indonesia Stock Exchange (BEI), becoming the fourth and fifth issuers in 2025.

PT Hero Global Investment Tbk (HGII)

HGII, a company operating in the new and renewable energy (EBT) sector, is offering 1.3 billion shares to the public, equivalent to 20% of the total shares listed. The initial public offering (IPO) price was set at IDR 200 per share, from an initial range of IDR 200-IDR 230. All IPO stages have been implemented, starting from book building on December 18 2024 to share distribution on January 8 2025. In addition, HGII attracted a new investor from Japan, Shikoku Electric Power Company, who will join post-IPO.

PT Raja Roti Cemerlang Tbk (BRRC)

BRRC, a producer of Royal brand bread flour from Bekasi, released 291.5 million shares to the public, equivalent to 30.01% of the total shares listed on the IDX. The IPO price is set at the upper limit, namely IDR 210 per share, from the price range offered during the book building process of IDR 200-IDR 210. Thus, BRRC has the potential to obtain fresh funds of up to IDR 61.21 billion. These funds will be used for working capital, including increasing raw material inventories and operational costs to support product sales growth.

Simultaneously with the initial share offering, BRRC also issued 145.75 million Series I Warrants free of charge as an incentive for new investors, with a ratio of 2:1, meaning that each holder of 2 new shares is entitled to receive 1 warrant with an exercise price of IDR 210.

Both shares are included in the Sharia Securities List

The Financial Services Authority (OJK) has included HGII and BRRC shares in the Sharia Securities List (DES). These two shares are considered to meet the criteria for sharia shares, starting from businesses that do not violate sharia principles to having interest-bearing debt of no more than 45% of total assets.

With this registration, it is hoped that HGII and BRRC can improve company performance, provide added value for shareholders, and contribute positively to the Indonesian economy.

Sumber: IDX Channel