Indonesian retailer MAP Aktif Adiperkasa made its trading debut on the Indonesia Stock Exchange on Thursday (05/07) after successfully having completed its initial public offering (IPO). The company offered 427.6 million new shares, equivalent to 15 percent of the company's total share capital, to the public at a price of IDR 2,100 a piece, hence raising IDR 897.9 billion (approx. USD $63 million). Indo Premier Sekuritas acted as underwriter for the IPO.
On its first day of trading shares of MAP Aktif Adiperkasa, a subsidiary of publicly listed Mitra Adiperkasa, surged 50 percent. MAP Aktif Adiperkasa was the 22nd company to have listed on the Indonesia Stock Exchange so far in 2018. Thus, there are now 586 listed companies in Indonesia.
Ratih D. Gianda, Corporate Secretary of MAP Aktif Adiperkasa, said the IPO will strengthen the company's capital structure by leveraging its valuation. Moreover, the IPO will boost the company's brand equity (which is the commercial value that derives from consumer perception of the brand name).
Ninety percent of the IPO proceeds will be used for the payment of non-interest-bearing bonds issued to Asia Sportswear Holding Pte, Ltd. Meanwhile, the remaining 10 percent will be allocated for the company's working capital budget. In terms of business expansion, MAP Aktif Adiperkasa eyes further expansion of its stores network. This year it seeks to add 100 more stores. Around half of new stores have been opened in the first half of 2018.
MAP Aktif Adiperkasa currently operates various well-known stores, including Planet Sports, Sports Station, Footgear, Golf House, Linea, and Kidz Station and sells more than 50 brands such as Skechers, Reebok, Converse, Onitsuka Tiger, New Era, Rockport, Payless, Steve Madden, Staccato, Clarks, Hasbro, and Lego. The company currently owns 963 stores across 71 cities in the country (most of these stores - around 70 percent - are located on Java). The company also employs more than 5,000 people.
So far in 2018 a total of 22 companies have been added to the Indonesia Stock Exchange:
Last Update: 30 Nov 2018
IPOs on the Indonesia Stock Exchange up to 5 July 2018
|Company||P: 30 Nov 2018||P: 29 Nov 2018||Gain/Loss||P/E ttm||Yield %||Gain/Loss YTD|
|LCK Global KedatonLCKM||300||312||-3.85%||N/A||0.00%||-3.85%|
|Borneo Olah Sarana SuksesBOSS||2,400||2,270||5.73%||N/A||0.00%||300.00%|
|Sky Energy IndonesiaJSKY||880||895||-1.68%||N/A||0.00%||46.67%|
|Indah Prakasa Sentosa Tbk.INPS||2,040||2,040||0.00%||N/A||0.00%||392.75%|
|Gihon Telekomunikasi Indonesia Tbk.GHON||1,280||1,170||9.40%||N/A||0.00%||-27.07%|
|Tridomain Performance Materials Tbk.TDPM||300||304||-1.32%||N/A||0.00%||-12.28%|
|Dafam Property Indonesia Tbk.DFAM||800||810||-1.23%||N/A||0.00%||310.26%|
|Charnic Capital Tbk.NICK||135||141||-4.26%||N/A||0.00%||-60.29%|
|Bank Tabungan Pensiunan Nasional Syariah Tbk.BTPS||1,715||1,725||-0.58%||N/A||0.00%||17.47%|
|Bank BRIsyariah Tbk.BRIS||540||545||-0.92%||N/A||0.00%||-0.92%|
|Surya Pertiwi Tbk.SPTO||980||985||-0.51%||N/A||0.00%||-17.65%|
|Royal Prima Tbk.PRIM||660||670||-1.49%||N/A||0.00%||-12.00%|
|Medikaloka Hermina Tbk.HEAL||3,050||3,050||0.00%||N/A||0.00%||-3.79%|
|Sarimelati Kencana Tbk.PZZA||900||900||0.00%||N/A||0.00%||-18.55%|
|Guna Timur Raya Tbk.TRUK||132||141||-6.38%||N/A||0.00%||-61.63%|
|Asuransi Tugu Pratama Indonesia Tbk.TUGU||3,390||3,370||0.59%||N/A||0.00%||-5.83%|
|Steadfast Marine Tbk.KPAL||270||286||-5.59%||N/A||0.00%||38.46%|
|Sriwahana Adityakarta Tbk.SWAT||127||127||0.00%||N/A||0.00%||-53.31%|
|MNC Studios International Tbk.MSIN||350||364||-3.85%||N/A||0.00%||-33.33%|
|Trimuda Nuansa Citra Tbk.TNCA||200||197||1.52%||N/A||0.00%||-21.26%|
|Map Aktif Adiperkasa Tbk.MAPA||3,310||3,310||0.00%||N/A||0.00%||5.08%|
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