The company offered 200 million shares to the public, equivalent to 20 percent of LCK Global Kedaton's equity, for a price of IDR 208 per share. Hence it collected IDR 41.6 billion (approx. USD $3.1 million) in fresh funds.

Lim Kah Hock, President Director of LCK Global Kedaton, stated that after deduction of the costs that are related to the IPO, the company will use 97 percent of the IPO proceeds for its working capital budget. The remaining three percent are allotted to research and development.

Prior to the IPO, LCK Investama Prima Indonesia owned a 64 percent stake in LCK Global Kedaton, while Maju Mekar Makmur owned a 33 percent stake. Their stakes have been reduced to 51.20 percent and 26.4 percent, respectively, after the IPO. LCK Investama Prima Indonesia is owned by LCK Indo Holding, which is affiliated with the Malaysia-based LCK Group. Meanwhile, share ownership of Lim Chin Kim, Kenny Lim and Lim Kah Hock fell from 1 percent, each, before the IPO, to 0.8 percent, each, after the corporate move.

Ruben Partogi, Finance Director of LCK Global Kedaton, said the company's sales reached IDR 36.64 billion (approx. USD $2.7 million) per June 2017, surging a whopping 381 percent from sales recorded at the end of 2016 (IDR 7.62 billion). In line with rising sales, the company's net profit climbed to IDR 4.34 billion (approx. USD $324,000) in June 2017, from IDR 482.87 million at the end of 2016.

Together with partners, LCK Global Kedaton built the tower of XL Axiata, Telkomsel, Hutchison 3 Indonesia (H3I), and Smartfren. The company's current projects are spread across Java, Sumatra, Bali, Kalimantan, Nusa Tenggara Barat, and Sulawesi.

Stock Quote LCK Global Kedaton - LCKM: