The Indonesia Stock Exchange (IDX) has issued a clarification regarding recent rumors concerning the initial public offering (IPO) subscription period for PT Abadi Lestari Indonesia Tbk (RLCO). Previously, speculation circulated among capital market investors that the RLCO IPO subscription period had been unexpectedly accelerated, with a new deadline of Wednesday, December 3, at 23:59 WIB.
I Gede Nyoman Yetna, the Director of Company Assessment at the IDX, firmly stated that the IPO subscription period for the issuer, which operates in the swiftlet bird’s nest business, remains unchanged and will proceed as originally planned. According to the official IPO prospectus, the subscription window is set to close on Thursday, December 4, at 12:00 WIB. Following this, the share listing on the IDX is scheduled for Monday, December 8.
“In response to information disseminated by one particular securities firm regarding a change in the RLCO IPO deadline, we wish to clarify that the IDX will continue to accept orders until the time explicitly stated in the prospectus,” Nyoman affirmed in an official statement, emphasizing the consistent adherence to regulatory documents.
The earlier confusion stemmed from screenshots circulating, reportedly shared by users of Stocbit Sekuritas, which indicated an adjustment to the IPO subscription schedule. These communications suggested that the alteration was due to technical issues originating from the IDX itself, prompting widespread uncertainty among potential investors.
Further investigation by Katadata.co.id revealed that the e-IPO website, the primary web-based public offering system for investors, experienced temporary inaccessibility. Around 20:00 WIB on Wednesday, December 3, the IPO share subscription site was reported to have crashed. The message displayed on the platform during this downtime indicated that the system was undergoing maintenance, adding to the apprehension surrounding the subscription process.
Screenshot of the e-IPO page when accessed on Wednesday (December 3) at 20:00 WIB (e-IPO Website)
Looking ahead, Abadi Lestari is slated for its listing on the Indonesia Stock Exchange (IDX) on December 8, 2025. Through this anticipated IPO, the company aims to secure a maximum of IDR 105 billion in fresh capital, a move expected to significantly bolster its strategic initiatives and expansion plans.
“The Company hereby conducts an Initial Public Offering of 625,000,000 new ordinary shares, each with a nominal value of IDR 50,” management detailed in an additional IPO prospectus released on Monday, December 1. This significant offering underscores Abadi Lestari’s commitment to expanding its market presence and operational capabilities.
For this crucial RLCO IPO, the company will be releasing 625 million shares, which constitutes 20% of its total issued and fully paid-up capital. Samuel Sekuritas Indonesia has been appointed to serve as the lead underwriter, playing a pivotal role in ensuring the smooth execution and successful placement of shares in the market.
The IPO proceeds, following the deduction of issuance costs, are earmarked for two primary strategic allocations. Approximately 56.33% of the funds will be channeled into enhancing the company’s working capital. This substantial portion is primarily designated for the procurement of essential swiftlet bird’s nest raw materials, crucial for sustaining and expanding its core business operations.
The remaining 43.67% of the funds will be strategically invested into its subsidiary, PT Realfood Winta Asia, in the form of capital participation. This capital injection is also intended for the procurement of similar raw materials, further strengthening the supply chain across the group. The company views this additional working capital from the IPO as indispensable for optimizing its factory capacity, which is currently not being utilized to its full potential.
With the backing of this new funding, Abadi Lestari expresses strong optimism about its future. The company anticipates a significant boost in its operational capacity and overall productivity, which is expected to be a key driver for accelerating revenue growth. It’s worth noting, however, that as of the prospectus issuance, the company has yet to finalize new agreements with either its existing or potential new suppliers, an aspect crucial for the full utilization of its enhanced capacities.
Summary
The Indonesia Stock Exchange (IDX) has clarified rumors regarding an accelerated subscription period for PT Abadi Lestari Indonesia Tbk (RLCO) Initial Public Offering (IPO). I Gede Nyoman Yetna, IDX Director, confirmed the official subscription period remains unchanged, closing on Thursday, December 4, at 12:00 WIB, with shares listed on Monday, December 8. Confusion stemmed from circulating screenshots from a securities firm and temporary inaccessibility of the e-IPO website on Wednesday, December 3.
Abadi Lestari, a swiftlet bird’s nest company, aims to raise a maximum of IDR 105 billion by offering 625 million shares (20% of capital) through this IPO, with Samuel Sekuritas Indonesia as lead underwriter. The proceeds are primarily earmarked for enhancing working capital (56.33%) to procure raw materials and for capital participation in its subsidiary, PT Realfood Winta Asia (43.67%), also for raw materials. This funding is intended to optimize factory capacity and drive revenue growth.
