23 June 2018

KONTAN.CO.ID - JAKARTA. Palm oil producer, Mahkota Group will release shares to the public amounting to 20% of the issued and fully paid capital through an initial public offering (IPO).

The offering price is in the range of IDR 200-250 per share. That way, the company aims for fresh funds of between IDR 140.74 billion and IDR 175.92 billion.

William Surya Wijaya, Vice President of Research Department of Indosurya Bersinar Sekuritas said, currently the price of crude palm oil (CPO) will still consolidate amid neutral weather. There is also no significant increase in demand.

“For the short term it should be okay, but for the long term you have to look at performance,” William said on Friday.

This year, Mahkota Group targets revenue of IDR 2 trillion and net profit of IDR 50 billion. The company pocketed IDR 1.76 trillion in revenue last year, down 4.86% compared to the previous year. While profit distributed to owners of the parent entity amounted to IDR 12.39 billion, down 71.80% year on year (yoy).

As of December 2017, Mahkota Group had total assets of IDR 964.71 billion. Total liabilities at the end of last year amounted to IDR 550.19 billion and total equity of IDR 414.51 billion.

Source : http://investasi.kontan.co.id/news/ipo-prospek-mahkota-group-bagus-dalam-jangka-pendek