09 February 2018

Apindo Chairman Hariyadi Sukamdani said that cooperation with the IDX to socialize IPOs to Apindo members is expected to be the first step for companies in the region to go public.

“Usually in preparation for finding the best book position, hopefully there are about 2-3 more that can go public,” he said, in Jakarta, Wednesday (7/2).

One of the companies that has expressed interest is PT Mahkota Group and plans to register with the IDX in March. The palm oil processing company targets to conduct an IPO in June 2018 by releasing 20-30% ownership.

Independent Director of Mahkota Group Nagian Tony explained, the company with an asset of around IDR 1 trillion is aiming for fresh funds of up to IDR 100-250 billion. The IPO funds will be used for expansion in the form of building a refinery or refinery plant to develop new businesses downstream, such as cooking oil production.

“The factory is processing only. We have land but in different locations. The plantation is with the community, still supported by the cooperative,” he said.

The company from North Sumatra has a palm oil processing plant capacity of 45 tons per hour.

Nagian said that the company has appointed Panin Sekuritas as the underwriter and will use the December 2017 financial report valuation. The parent company will carry out the IPO to support the investment of six subsidiaries and one bulking subsidiary.

Meanwhile, Chairman of Apindo North Sumatera Parlindungan Purba said, basically the potential for regional companies to go public is quite large. The reason is, there are still a number of plantation companies and mining companies that are quite large, especially in North Sumatra.

“So far, the company has been closer to the banking world for finance. Meanwhile, funding from the capital market can still be utilized,” he said. (jn)

Source : http://id.beritasatu.com/home/ipo-anggota-apindo/171733