JAKARTA (TheInsiderStories) – Two British investors, Glodfive Investment Capital Ltd dan Castelford Investment Holding Ltd will become the shareholders of owned Indonesian property developer, PT DMS Propertindo Tbk (KOTA) after listing at the Indonesia Stock Exchange (IDX), said the company in a disclosure information.
Both investors reached into pocket Rp270.1 billion (US$19.15 million) to absorb the shares through a mandatory convertible bond (MCB). Recently, DMS announced to list its shares with price Rp200 each helped by Danatama Makmur Sekuritas and NH Sekurita.
The company has pocketed an effective statement on June 28 from Financial Service Agency with a public offering period of July 2-3 and listing on July, 9. With the number of shares totaling 933 million, DMS will obtain fresh funds of Rp186.6 billion.
Ferryan Syukri, Corporate Secretary of DMS Propertindo, said in an official statement on June 21, the developer also over an incentive 2.8 billion Series I warrants with a 3:1 ratio with the exercise price Rp250 a share. The funds from the initial public offering (IPO) and MCB will be used by DMS to acquire a land in South Bandung, West Java and as working capital.
The company planned to develop a small city area in South Bandung covering 63 hectares. DMS Propertindo is a residential property company and managed Accola Park Serpong and Accola Residences in Tangerang also Accola Garden Samarinda, East Kalimantan.
Beside residential, DMS also developed hotels. There are two hotels listed in the DMS business network, namely Zest Hotels in Yogyakarta and FABU Hotels in Bandung, West Java.
Last year, sales of DMS Propertindo worth of Rp170.28 billion, skyrocketing 424 percent from the same period the previous year. While, the net income was recorded at Rp13.06 billion, up 18.61 percent from 2017. And, total assets amounted to Rp1.23 trillion
IDX targeting as many as 14 companies will go IPO in the local bourse. In 2018, as many as 58 companies have conducted IPOs with fund raising of Rp16.42 trillion. The companies that conduct the IPO, at most or 19 companies are companies engaged in trade, services and investment.
Besides the 13 companies, there are other companies that also plan an IPO this year, namely a subsidiary of PT PP Tbk (IDX: PTPP) and PT Bank Kesejahteraan Ekonomi.
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