JAKARTA (TheInsiderStories) – Indonesian logistic provider, PT Dewata Freight International Tbk (DFI), aimed to be listed in Indonesia Stock Exchange (IDX) this year. The logistics company is eyeing up to Rp49.5 billion (US$34.13 million) from the Initial Public Offering.
The company planned to inject Rp16 billion capital to its subsidiary, PT Dewata Makmur Bersama, for developing gas machine power plant project in Lampung. And the rest will be used for company’s working capital.
In the due diligence meeting on Monday (22/10), management announced the company shares will be offered in the range of Rp120 to Rp160 a share, as it will issue 300 million shares or 26.79 percent of enlarged capital.
Toto Sosiawanto, Senior Vice President Erdhika Elit Sekuritas as underwriter said, buyers will get sweetener–referred to warrants–from this offering. There will be 60 million warrants issued or 7.32 percent of company’s paid capital. Each shareholder with 5 new shares, will receive 1 warrant, he added.
DFI initial offering will start on Oct. 22 to 24. Public offering period be held on Nov. 2 to 5. So the company can be officially go public on Nov. 9.
The 23 years-established Dewata Freight holds some business lines such as project transportation, heavy lift, inter-islands logistics, ocean freight service, warehouse and distribution management, air cargo services, also customs clearance with major locations in Surabaya and Jakarta. DFI was first established in 1994 in Denpasar, Bali.
Based on IDX data, as many as 22 companies ready to offer the company shares during 2018 to 2019. According to the director IGD N Yetna Setia, 30 companies were listed from this year target as many as 35 companies.
The companies name such as PT Kota Satu Properti, PT MD Pictures, PT Kagum Jaya Sakti, PT Pratama Abadi Nusa Industri, PT Trimitra Propertindo, PT Cottonindo Ariesta, PT Arkadia Digital Media, PT Andira Agro, PT Nature City Developments, PT Superkrane Mitra Utama, PT Net Visi Media, PT Madusari Murni Indah, PT Satria Antaran Prima, PT GarudaFood Putra Putri Jaya, PT Propertindo Mulia Investama, and PT Super Energy.
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