Jakarta - PT Formosa Ingredient Factory Tbk (BOBA) became the 40th company to list its shares on the Indonesia Stock Exchange in 2021.

President Director of Formosa Ingredient Factory, Yunita Sugiarto, said that in this corporate action the company issued 140 million new shares or 12.11% of the total paid-up capital after the IPO.

"Funds that will be obtained from the proceeds of this public offering after deducting emission costs are used as working capital for the purchase of raw materials, supporting materials, operational costs and marketing or marketing costs to expand the marketing network by distributing to other areas as well as promotions carried out. to other areas to support the company's growth in the future," in his statement in Jakarta on  Monday (1/11).

According to Yunita, with an offering price of Rp280 per share, the company will obtain Rp39.20 billion of funds through the IPO.

The party acting as the imple