JAKARTA (TheInsiderStories) – Pharmaceutical processing provider PT Phapros ready to hold an initial public offering (IPO) in 2017 to raises over than Rp 1 trillion by offering 201 percent of stake, said Didik Prasetyo, Director of state-owned agri-business PT Rajawali Nusantara Indonesia. He said, the IPO funds allocated for business expansion
He added, in order to grow the business of Phapros, its unit plan to raises fund by release bond with total amount of Rp 300 billion in the first quarter of 2017. This, He continued, will make Phapros has total assets Rp 1 trillion from now Rp700 billion.
Last year, Phapros income of Rp 691.25 billion, up 19 percent over the same period of the previous year and its expecting this year to reach Rp 800 billion.
Phapros has a number of products, such as Antimo, Bioron and special medical adult men, X-gra. The company also plans to build a second drug factory in Ungaran, Semarang. The investment value of Rp 450 billion.
The new plant has a capacity of 2 billion tablets per year. If combined with the old factory in Simongan, Semarang, the production capacity could reach 3 billion eggs per year.