23 June 2018

KONTAN.CO.ID - JAKARTA.  PT Mahkota Group has prepared a number of factory plans after the initial public offering (IPO) event. The company will acquire palm oil plantations and increase the capacity of stockpile tanks.

President Director of PT Mahkota Group Tbk Usli Sarsi said the company will acquire 5,000 to 20,000 hectares (ha) of oil palm plantations.

“We will make land acquisitions at the end of 2019 or in 2020. So far we don't have any plantations, only palm oil land around the factory and even that is not too big,” Usli said on Friday (22/6).

The company will also expand its business by increasing the capacity of its CPO storage tank by 20,000 metric tons (MT) from its previous capacity of 70,000 MT.

“This year we are targeting the company's revenue to reach Rp 2 trillion and net profit of IDR 50 billion. We are optimistic that this can be achieved by the end of the year,” said Usli.

For your information, Mahkota Group will release shares amounting to 20% of the issued and fully paid capital through an IPO. Shares will be offered in the price range of IDR 200-250 per share. That way, the company is aiming for fresh funds between IDR 140.74 billion and IDR 175.92 billion.

Reporter: Willem Kurniawan 
Editor: Dupla Kartini

Source : https://investasi.kontan.co.id/news/mahkota-group-bidik-akuisisi-kebun-sawit-hingga-20000-ha