Great Demand for IPO Superkrane Mitra Utama on Indonesia Stock Exchange
Superkrane Mitra Utama, the biggest heavy equipment construction and equipment rental company in Indonesia, is scheduled to make its trading debut on the Indonesia Stock Exchange on 11 October 2018. The initial public offering (IPO) of the company appeals to investor appetite as the IPO is reportedly oversubscribed 9.9 times.
In the offer period that was held on 3-5 October 2018 investors showed great demand for the shares of Superkrane Mitra Utama. According to John Octavianus, Head of Investment Banking at UOB Kay Hian Sekuritas, there are three reasons why there exists plenty of demand for the company's shares.
First, the Indonesian government remains focused on infrastructure development, hence demand for cranes is estimated to rise. Second, Superkrane Mitra Utama is the biggest crane rental company in Indonesia. Hence it is in a great position and bound to benefit markedly when infrastructure development is growing. Third, the company is cheap in terms of stock valuation.
Through the IPO Superkrane Mitra Utama offers 300 million shares, or 20 percent of the company's total shares, to the public for a price of IDR 700 per share. Therefore, the company will raise a total of IDR 210 billion (approx. USD $14 million) through the corporate move.
With the IPO price of IDR 700 a piece, the EV/EBITDA is estimated at 4.2 times in 2019. According to Octavianus this represents a 40 percent discount compared to similar companies. Superkrane Mitra Utama particularly targets long-term investors in the IPO such as pension funds and asset management companies.
Superkrane Mitra Utama will use half of the IPO proceeds for down-payments related to the purchase of new cranes. Meanwhile, 25 percent will be used to settle debt, while the remainder will be allocated for the company's operating costs budget.
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 10 October 2018
| Company | P: 29 Mar 2021 | P: 28 Mar 2021 | Gain/Loss | P/E ttm | Yield % | Gain/Loss YTD |
| LCK Global KedatonLCKM | 254 | 250 | 1.60% | N/A | 0.00% | -34.20% |
| Borneo Olah Sarana SuksesBOSS | 111 | 113 | -1.77% | N/A | 0.00% | -35.09% |
| Jaya TrishindoHELI | 464 | 496 | -6.45% | N/A | 0.00% | 125.24% |
| Sky Energy IndonesiaJSKY | 131 | 130 | 0.77% | N/A | 0.00% | -31.05% |
| Indah Prakasa Sentosa Tbk.INPS | 2,000 | 2,000 | 0.00% | N/A | 0.00% | -59.60% |
| Gihon Telekomunikasi Indonesia Tbk.GHON | 2,100 | 2,200 | -4.55% | N/A | 0.00% | 23.53% |
| Tridomain Performance Materials Tbk.TDPM | 119 | 119 | 0.00% | N/A | 0.00% | -13.14% |
| Dafam Property Indonesia Tbk.DFAM | 170 | 180 | -5.56% | N/A | 0.00% | -1.73% |
| Charnic Capital Tbk.NICK | 278 | 278 | 0.00% | N/A | 0.00% | -10.90% |
| Bank Tabungan Pensiunan Nasional Syariah Tbk.BTPS | 3,620 | 3,680 | -1.63% | N/A | 0.00% | 0.56% |
| Bank BRIsyariah Tbk.BRIS | 2,450 | 2,540 | -3.54% | N/A | 0.00% | -23.20% |
| Surya Pertiwi Tbk.SPTO | 482 | 476 | 1.26% | N/A | 0.00% | -13.15% |
| Royal Prima Tbk.PRIM | 180 | 180 | 0.00% | N/A | 0.00% | -19.64% |
| Medikaloka Hermina Tbk.HEAL | 4,560 | 4,600 | -0.87% | N/A | 0.00% | 21.60% |
| Sarimelati Kencana Tbk.PZZA | 795 | 785 | 1.27% | N/A | 0.00% | 5.30% |
| Guna Timur Raya Tbk.TRUK | 218 | 199 | 9.55% | N/A | 0.00% | -8.40% |
| Asuransi Tugu Pratama Indonesia Tbk.TUGU | 1,580 | 1,585 | -0.32% | N/A | 0.00% | -10.23% |
| Steadfast Marine Tbk.KPAL | 52 | 50 | 4.00% | N/A | 0.00% | 4.00% |
| Sriwahana Adityakarta Tbk.SWAT | 100 | 101 | -0.99% | N/A | 0.00% | -2.91% |
| MNC Studios International Tbk.MSIN | 158 | 159 | -0.63% | N/A | 0.00% | -10.73% |
| Trimuda Nuansa Citra Tbk.TNCA | 370 | 368 | 0.54% | N/A | 0.00% | 28.47% |
| Map Aktif Adiperkasa Tbk.MAPA | 2,280 | 2,250 | 1.33% | N/A | 0.00% | -6.17% |
| Transcoal Pacific Tbk.TCPI | 8,150 | 8,550 | -4.68% | N/A | 0.00% | -4.12% |
| Batavia Prosperindo Trans Tbk.BPTR | 90 | 87 | 3.45% | N/A | 0.00% | 13.92% |
| Jaya Sukses Makmur Sentosa Tbk.RISE | 430 | 428 | 0.47% | N/A | 0.00% | 3.86% |
| Indonesia Kendaraan Terminal Tbk.IPCC | 615 | 620 | -0.81% | N/A | 0.00% | 13.89% |
| Pollux Properti Indonesia Tbk.POLL | 4,000 | 4,300 | -6.98% | N/A | 0.00% | -6.54% |
| Sinergi Megah Internusa Tbk.NUSA | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Mahkota Group Tbk.MGRO | 760 | 765 | -0.65% | N/A | 0.00% | -5.59% |
| NFC Indonesia Tbk.NFCX | 2,050 | 2,200 | -6.82% | N/A | 0.00% | -10.48% |
| MD Pictures Tbk.FILM | 360 | 356 | 1.12% | N/A | 0.00% | 0.00% |
| Andira Agro Tbk.ANDI | 50 | 51 | -1.96% | N/A | 0.00% | -7.41% |
| Trimitra Propertindo Tbk.LAND | 149 | 150 | -0.67% | N/A | 0.00% | -6.88% |
| Madusari Murni Indah Tbk.MOLI | 1,125 | 1,120 | 0.45% | N/A | 0.00% | 13.07% |
| Arkadia Digital Media Tbk.DIGI | 380 | 384 | -1.04% | N/A | 0.00% | -1.55% |
| Pratama Abadi Nusa Industri Tbk.PANI | 114 | 122 | -6.56% | N/A | 0.00% | -3.39% |
| Natura City Developments Tbk.CITY | 179 | 172 | 4.07% | N/A | 0.00% | -27.82% |
| Satria Antaran Prima Tbk.SAPX | 840 | 860 | -2.33% | N/A | 0.00% | -61.82% |
| Super Energy Tbk.SURE | 2,020 | 2,020 | 0.00% | N/A | 0.00% | -8.18% |
| Cottonindo Ariesta Tbk.KPAS | 74 | 73 | 1.37% | N/A | 0.00% | 21.31% |
| Propertindo Mulia Investama Tbk.MPRO | 890 | 955 | -6.81% | N/A | 0.00% | -48.85% |
| HK Metals Utama Tbk.HKMU | 83 | 83 | 0.00% | N/A | 0.00% | -22.43% |
| Garudafood Putra Putri Jaya Tbk.GOOD | 1,700 | 1,695 | 0.29% | N/A | 0.00% | 39.34% |
| Jaya Bersama Indo Tbk.DUCK | 256 | 254 | 0.79% | N/A | 0.00% | -14.09% |
| Combined Total | 46,837 | 48,034 | -2.49% | -10.70% |
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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