JAKARTA (TheInsiderStories) – PT Diamond Food Indonesia Tbk (IDX: DMND) officially floored on the Indonesia Stock Exchange (IDX) today (01/21). Beside list its shares, the issuer engaged in the food and beverage products, also execute the convertible bonds with values Rp1.6 trillion (US$114.28 million) to Singapore-based Anderson Investment Pte. Ltd.
The conversion bond agreement signed between the company and Anderson on July 11, 2019. Referring to the agreement, Diamond Food will issue 1.15 billion shares.
While, from the initial public offering (IPO), the company its expecting to raises Rp915 billion after released 100 million shares with price Rp915 a share. Most of the proceeds will be used to inject capital to its subsidiary, PT Sukanda Djaya and the remaining as working capital.
Beside Sukanda, Diamond Group has three subsidiaries and one affiliated company namely PT Diamond Cold Storage, PT Diamondfair, PT Indogourmet Sarana Cemerlang, and an associated company, PT NHF Diamond Indonesia.
After the IPO, the shareholders composition are Chen Tsen Nan will hold 43.52 percent of Diamond Food’ shares, Kenneth Chen 24.27 percent, Chen Wai Sioe 11.27 percent, Astrawati Aluwi 7.63 percent, Anderson Investment 12.23 percent, and public 1.04 percent.
President director of IDX, Inarno Djajadi, has said 76 companies will offer various instruments in 2020. The instrument consist of share, corporate bond, asset-backed securities, exchange-traded fund, real estate investment trust and infrastructure investment fund.
Next year, IDX optimistic 60 companies will conduct an initial public offering (IPO), higher than this year target, to list 57 companies during 2019. In 2018, as many as 58 companies have listing with fund raising of Rp16.42 trillion.
He said, the regulator will continue to explore potential companies to raise funds through the stock market. Until 2022, IDX is optimistic that they will pursue 1,000 new listed companies.
Djajadi believed, with the current number of 649 issuers, the target can be pursued if the bourse is able to capture at least 100 issuers per year. This number is not only IPO, but include mutual funds exchange traded fund, Real Estate Investment Funds, and infrastructure investment funds in the form of collective investment contracts.
Recently, chairman of Financial Service Authority (FSA), Wimboh Santoso, stated that the agency targeting the direct investment go to Indonesian financial market could reached Rp190 trillion in this year.
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