Indonesia Stock Exchange: Listing of Bank Agris & Intan Baruprana Finance

On Monday (22/12), two Indonesian companies were listed on the Indonesia Stock Exchange (IDX). Financing firm Intan Baruprana Finance, subsidiary of publicly listed heavy equipment distributor Intraco Penta, and lender Bank Agris, unit of Dian Intan Perkasa (part of Thailand-based Charoen Pokphand Group). The companies are the 22nd and 23rd company to have conducted an initial public offering (IPO) on the IDX in 2014. The IDX is expecting to see one more IPO this year: Golden Plantation.


Shares of Bank Agris, which focuses on the fishery and agriculture sectors, were up 50 percent after the opening on Monday from IDR 110 to IDR 185 per share. Earlier it had been reported that Bank Agris aims to raise IDR 103.5 billion (USD $8.3 million) by offering 900 million shares, equal to 21.3 percent of the company’s total equity. Indo Premier Securities was appointed as the underwriter for the IPO.

About 30 percent of the proceeds generated through the IPO are to be used for capital expenditure in 2015 (for the establishment of 10 new branches), while the remaining 70 percent are to be allocated to loan disbursements (mostly to chicken, fish and shrimp farmers). Presently, the bank owns 19 branches in the larger cities on Sumatra, Java and Kalimantan.

At the end of September 2014, Bank Agris had IDR 2.3 trillion in loans. The company targets net profit of between IDR 12 and IDR 15 billion by the year-end. Next year, Bank Agris aims to double the net profit figure.

Meanwhile, shares of Intan Baruprana Finance, a financial firm that provides financing for capital goods, transport equipment, as well as other machinery, slightly fell shortly after opening on Monday. The company raised IDR 192.4 billion (USD $15.4 million) through the release of 398.5 million new shares and the divestment of 269.45 million shares. About 25 percent of the proceeds will be used for debt repayments and the remainder for working capital.

Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 22 December 2014
CompanyP: 29 Mar 2021P: 28 Mar 2021Gain/LossP/E ttmYield %Gain/Loss YTD
Bank Panin SyariahPNBS83821.22%N/A0.00%-4.60%
Asuransi Mitra Maparya Tbk.ASMI925930-0.54%N/A0.00%-6.57%
Bank Ina Perdana Tbk.BINA1,5601,5500.65%N/A0.00%64.21%
Capitol Nusantara Indonesia Tbk.CANI1861860.00%N/A0.00%22.37%
Tunas Alfin Tbk.TALF31025820.16%N/A0.00%13.97%
Bali Towerindo Sentra Tbk.BALI7006901.45%N/A0.00%-6.04%
Wijaya Karya BetonWTON334344-2.91%N/A0.00%-20.85%
Graha Layar PrimaBLTZ4,6004,650-1.08%N/A0.00%53.85%
Intermedia Capital Tbk.MDIA6366-4.55%N/A0.00%3.28%
Eka Sari Lorena TransportLRNA180185-2.70%N/A0.00%1.69%
Link NetLINK3,2403,2001.25%N/A0.00%25.10%
Chitose InternasionalCINT238244-2.46%N/A0.00%-6.30%
Magna Finance Tbk.MGNA50500.00%N/A0.00%0.00%
Batavia Prosperindo Internasional Tbk.BPII7,3007,3000.00%N/A0.00%-15.12%
Mitrabara AdiperdanaMBAP2,8102,8000.36%N/A0.00%1.08%
Sitara Propertindo Tbk.TARA50500.00%N/A0.00%0.00%
Bank Dinar Indonesia Tbk.DNAR196210-6.67%N/A0.00%6.52%
Impack Pratama Industri Tbk.IMPC1,4551,460-0.34%N/A0.00%5.82%
Bank Agris Tbk.AGRS464498-6.83%N/A0.00%123.08%
Intan Baruprana Finance Tbk.IBFN171180-5.00%N/A0.00%-40.21%
Combined Total24,91524,933-0.07%7.29%

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

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