JAKARTA (TheInsiderStories) – Japan sanitary pads unit, PT Unicharm Indonesia plans to conduct an initial public offering (IPO) by offered 831.31 million new shares or 20 percent of the issued and fully paid up capital, said the management on Monday (11/25). The company set and indicative price between Rp1.400 – 1.800 a share and its expecting to raise funds around Rp1.49 trillion (US$106.43 million).
According to president director of Unicharm, Yuji Ishii, the company is expected to receive effective statement from the Financial Service Authority on Dec. 11, book-building on Dec. 12 – 13, and to be listed on Indonesia Stock Exchange on Dec. 20.
“We are optimistic that our shares will be attractive to investors because we are a market leader company in Indonesia with a market share of 49.8 percent for baby diaper products, 42.1 percent for sanitary napkin products. and 46.0 percent for adult diaper products based on retail market value in 2018 based on Euromonitor data,” he said.
The proceeds, he continued, will use by the manufacturer for capital expenditure and for debt payments needs. Unicharm appointed PT Sinarmas Sekuritas as the lead underwriter for the IPO.
The company was founded in Indonesia. The first factory located in Karawang, West Java, and began the operations in June 1997. The second factory in the same location began operations in June 2010.
And in September 2013, the company’ third factory in Mojokerto began operating. Then, in December 2017, issuer completed the acquisition of 99.0 percent ownership in a subsidiary company from Unicharm Kokko Nonwoven Co., Ltd, a member of the Unicharm Group.
The producer is a subsidiary of Japan’ Unicharm Corporation, where UC Japan controls 74.0 percent of the company’ share and PT Purinusa Ekapersada 26.0 percent.
This year, there have been 48 companies listed their shares of IDX, however, the proceeds were below Rp1 trillion. The latest are PT Mulia Boga Raya Tbk (IDX: KEJU) which released 100 million share with price of Rp750 per share. Then, PT Palma Serasih Tbk (IDX: PGSO) by offering 2.85 billion shares with price of Rp105 per share.
While, IDX stated that there are 37 companies ready to list their shares at the bourse in this year. According to the director, I Nyoman Gede Yetna, the 35 companies will list their stake in domestic market and two companies are processing listing to the foreign bourse.
In term of type of industry, the companies are derived from various industries which dominated from property, real estate and construction sector of nine companies, as well as trade, service and investment sector of eight companies. While others are from consumer goods industry, agriculture, mining industry sectors.
He said, with a a row of companies queuing up to go IPO, as much as 83 companies will become the new issuer at IDX. Its more than last year’ performance only 57 companies listed their shares at the bourse.
Next year, the local bourse eyes 76 emissions, which come from new shares, bonds, mutual funds, and other emissions. CEO of IDX, Inarno Djajadi, hopes five of 76 new emissions will come from state-own enterprises companies.
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