Indonesia-based trade, transportation and logistics services provider Indah Prakasa Sentosa became the fifth company to complete its initial public offering (IPO) on the Indonesia Stock Exchange in 2018. On Friday (06/04) the company made its trading debut on the local bourse, surging 50 percent to close at IDR 414 per share along the way. After the listing of Indah Prakasa Sentosa there are now 570 publicly-listed companies in Indonesia.
Eddy Purwanto Winata, President Director of Indah Prakasa Sentosa, said this latest corporate move enables the company to eye further business expansion. Considering Indonesia is a giant archipelago with thousands of islands, there are some serious logistics challenges but also major opportunities. Indah Prakasa Sentosa wants to play its part by offering customers a smooth flow of goods.
He added that one of the key business strategies of the company is to boost the marketing and sales of fuels by seeking new customers, keep existing customers on board, while winning back those former customers who have switched to another logistics services company. Meanwhile, the company will also focus on improving its physical infrastructure as well as its human resources and technology.
Indah Prakasa Sentosa offered 150 million shares to the public through the IPO, raising IDR 41.40 billion (approx. USD $3 million). Nearly 48 percent of the IPO proceeds will be used to acquire Jono Gas Pejagalan (Jonogas). Meanwhile, around 45 percent of the proceeds are to be used for the company's working capital budget.
Appointed as underwriters for the IPO were Investindo Nusantara Sekuritas and Jasa Utama Capital Sekuritas.
Indah Prakasa Sentosa targets a 50 percent increase in revenue this year to around IDR 500 billion (approx. USD $36.5 million). The company targets net profit of IDR 17 billion in 2018. Currently, 42 percent of the company's revenue is generated through its warehousing business segment (the company owns a 6,000 square meters-sized warehouse in the Greater Jakarta area, primarily used for fast moving consumer goods), followed by the fuel distribution segment with 41 percent. The acquisition of Jono Gas Pejagalan, which will require an investment of around IDR 20 billion, will contribute significantly to the company's rising revenue.
Prior to the listing of Indah Prakasa Sentosa four other companies were added to the Indonesia Stock Exchange in 2018: telecommunication construction services company LCK Global Kedaton, coal miner Borneo Olah Sarana Sukses, helicopter transportation services company Jaya Trishindo, and solar panel manufacturer Sky Energy Indonesia. Meanwhile, Gihon Telekomunikasi Indonesia and Tridomain Performance Materials are set to make their trading debuts in Indonesia on 9 April 2018.
Last Update: 20 Apr 2018
IPOs on the Indonesia Stock Exchange up to 06 April 2018
|Company||P: 20 Apr 2018||P: 19 Apr 2018||Gain/Loss||P/E ttm||Yield %||Gain/Loss YTD|
|LCK Global KedatonLCKM||394||390||1.03%||N/A||0.00%||26.28%|
|Borneo Olah Sarana SuksesBOSS||2,090||2,100||-0.48%||N/A||0.00%||248.33%|
|Sky Energy IndonesiaJSKY||915||935||-2.14%||N/A||0.00%||52.50%|
|Indah Prakasa Sentosa Tbk.INPS||3,030||2,430||24.69%||N/A||0.00%||631.88%|
Green colour indicates upward movement
Red colour indicates downward movement
P = price; E = earnings; D = dividend; Yield = D/P
"N/A" indicates P/E < 0 (negative earnings)
"-" indicates E,D,P or YTD is not available