JAKARTA (TheInsiderStories) - Several companies ready to list their shares in Indonesia Stock Exchange (IDX) to grab fund for business expansion, saidsaid Director of Corporate Valuation Samsul Hidayat. The companies has mini expose for Initial Public Offering (IPO) plans namely PT Terregra Asia Energy, a company engages in renewable energy and drinking water producer PT Sariguna Primatirta.
Corporate Secretary of Terregra Christin Soewito after held mini expose at the IDX said, the company plans to launch IPO in the second quarter of this year, with target date on May 8 and aims to raise up to Rp200 billion. The company has pointed Lautandhana Securindo as underwriter of the corporate action.
Christin added, Terregra would release some of its shares to approximately 600 million shares, or approximately 21 percent of the issued and paid-up. Currently, the company plans to finalize as many as four mini-hydro projects with a capacity of 40 megawatts.
The four projects were located in Tapanuli, North Sumatra. The company has develops mini hydro and solar power energy, with total installed capacity of 72 MW.
While, Sariguna Primatirta preparing to hold an IPO by offer around 500 million shares or 22 percent of enlarged capital in March. The underwriters for the IPO its Lautandhana Securindo. The drinking water producer company will conduct an IPO by using the book by Oct. 31, 2016. Bottled water companies are known by the brand Cleo is doing an IPO in order to expand the business.
Other company has announced go IPO in this year isa gold miner PT Agincourt Resources in this year. The move is following the completion of the acquisition of Martabe gold mining in North Sumatera by EMR Capital-led consortium.
Martabe Gold Mine is located in North Sumatra in the District of South Tapanuli. Most of the mine’s support facilities are located adjacent to the trans-Sumatran highway and close to a number of villages that belong to the sub-district of Batangtoru. The mine operational area is centerd on the Purnama open-cut mine and a conventional carbon-in-leach (CIL) gold ore processing plant with a design capacity of 4.5 million tonnes of ore per annum.
IDX expecting to see as many as 30 companies going public in this year, grow almost double than a year ago 16 companies. IDX president director Tito Sulistio, revealed that he has “intensively” talked to over 140 companies that have expressed interest to go public.
The Insurance industry with an investment fund of Rp640 trillion is predicted to place Rp25 trillion to stocks and demand for stocks from mutual fund industry is expected to reach Rp15 trillion. While, the remaining Rp6 trillion is for public investors. (*)