Trafoindo to raise up to Rp480b through IPO

JAKARTA (TheInsiderStories) – PT Trafoindo Prima Perkasa aims to raise between Rp384.5-Rp480 billion from initial public offering (IPO). In a public presentation on Monday, the company disclosed that it plans to offer shares at price of Rp320-RP400 per share. It will use around 65% of the IPO proceeds to strengthen working capital as well as the expansion of its subsidiary PT Powerindo Prima Perkasa.

Currently, the company operates four units of plants located in Jatiuwung, Tangerang and Banten. The company, established by businessman Maximillian Widjaja recorded sales of Rp1.34 trillion in 2016, up from Rp1.13 trillion in 2015.

The other companies that are going to launch IPO in the next few months are PT Buyung Poetra Sembada and PT Integra Incocabinet.  (*)