Asuransi Tugu Pratama Prepares IPO on Indonesia Stock Exchange
Indonesia-based general insurance company Asuransi Tugu Pratama Indonesia, which is majority-owned by state-owned energy company Pertamina, will offer 282.35 million new shares to the public through an initial public offering (IPO) on the Indonesia Stock Exchange. The number of shares offered to the public is equivalent to 15 percent of the company's total shares.
Asuransi Tugu Pratama Indonesia will use 75 percent of the IPO proceeds to strengthen its capital base (specifically to improve the company's marketing infrastructure, information technology, and the rebranding of promotional offers), while the remainder will be injected into its subsidiary Tugu Reasuransi Indonesia.
After the IPO, the shareholder composition of Asuransi Tugu Pratama Indonesia will be as follows: Pertamina (55.25 percent), Sakti Laksana Prima (14.96 percent), Siti Taskiyah (10.33 percent), and Mohamad Satya (4.46 percent).
The initial offering of Asuransi Tugu Pratama Indonesia shares will be conducted in the 11-23 April 2018 period, while the general offering is scheduled for 7-9 May 2018. The company is set to make its trading debut on 15 May 2018. The exact share price for the IPO is yet to be determined but the company indicated a IDR 3,850 - 5,000 a piece price range.
In 2017 Asuransi Tugu Pratama Indonesia reported a 71.7 percent year-on-year (y/y) growth in net profit to IDR 258.4 billion (approx. USD $18.9 million), from IDR 166.3 billion in the previous year, supported by sales of its main insurance products in the energy sector (primarily by providing insurance to big corporations offshore). In 2018 the company targets to achieve a 15 percent (y/y) rise in net profit.
Recently, Asuransi Tugu Pratama Indonesia President Director Indra Baruna said his company will introduce new insurance products, targeting medium-sized companies, particularly in the automotive industry. Besides the energy sector, the company sells insurance products for cargo and shipping, life, sharia and health, among others.
So far in 2018 seven companies were added to the Indonesia Stock Exchange: telecommunication construction services company LCK Global Kedaton, coal miner Borneo Olah Sarana Sukses, helicopter transportation services company Jaya Trishindo, solar panel manufacturer Sky Energy Indonesia, trade, transportation and logistics services provider Indah Prakasa Sentosa, telecommunication support services company Gihon Telekomunikasi Indonesia, and chemical manufacturing company Tridomain Performance Materials.
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 11 April 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% |
| Combined Total | 5,179 | 5,308 | -2.43% | -33.09% |
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