Indonesian state-controlled contractor Waskita Karya is also eager to see its subsidiary Waskita Toll Road conducting an initial public offering on the Indonesia Stock Exchange. On Tuesday (20/09) another unit of Waskita Karya - Waskita Beton Precast - was listed on the local bourse, raising IDR 5.16 trillion (approx. USD $394 million) hence becoming the biggest IPO in Indonesia so far this year. This year there have been few companies eager to list considering the highly volatile markets amid the weak global economy and ahead of another Fed Fund Rate hike.

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Precast concrete producer Waskita Beton Precast is expected to raise IDR 5.16 trillion (approx. USD $391 million) from an initial public offering (IPO) on the Indonesia Stock Exchange. As such, the IPO of the company, a unit of listed state-controlled construction company Waskita Karya, could be the biggest offering of the past five years. After the book-building process has been completed, the price of one Waskita Beton Precast share is expected to be IDR 490 a piece. However, the final price will be announced on 1 September 2016.

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One of the Indonesian companies - listed on the Indonesia Stock Exchange - that is in a great position to improve its corporate earnings on the back of the construction of the country's first high-speed railway is Wijaya Karya Beton (Wika Beton). The railway between Jakarta and Bandung has a length of 142 kilometers and requires a large amount of precast concrete. Moreover, Wika Beton is a subsidiary of Wijaya Karya. This construction company is among the companies that develop the Jakarta-Bandung railway.

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Wijaya Karya Beton, better known as Wika Beton, set its share price at IDR 590 for the initial public offering (IPO) on the Indonesia Stock Exchange. Previously, the company indicated an offering price target in the range of IDR 470 to IDR 630 per share. As Wika Beton's shares are expected to lure investors, the price was set relatively high within that price range. During Wika Beton's roadshow to Malaysia, Singapore and Hong Kong, global investors expressed their interest in the company's prospects.

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Wijaya Karya Beton (Wika Beton), a company that specializes in the precast concrete industry, is planning to conduct an initial public offering (IPO) on the Indonesia Stock Exchange this year. The company, which has appointed Mandiri Sekuritas as its underwriter, aims to raise about IDR 1 trillion (USD $103 million) through the IPO. Originally, its IPO was planned to be conducted in 2014. However, the company prefers to take advantage of current positive market sentiments.

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