Emdeki Utama, a leading Indonesian calcium carbide manufacturer, was added to the Indonesia Stock Exchange on Monday (25/09). The company became the 22nd company to conduct an initial public offering (IPO) in Indonesia so far in 2017. There are now 556 companies listed on the local exchange.
Emdeki Utama, which was established in 1987, offered 307.25 million shares - equivalent to 17 percent of the company's total shares - to the public during the IPO for a price of IDR 600 a piece. Hence, the company generated IDR 184 billion (approx. USD $13.8 million) worth of new funds.
Hiskak Secakusuma, President Director of Emdeki Utama, said nearly 74 percent of IPO proceeds will be used to construct two new factories; one that will manufacture carbide desulphurizer (24.95 percent of IPO proceeds) and one that produces high-grade silica alloy (48.96 percent).
Meanwhile, 13.41 percent of the fresh funds will be used as working capital to operate the new factories, while the remainder of funds will be allocated for existing businesses.
While most companies that make their debut on the Indonesia Stock Exchange see their share prices surge on the first day, shares of Emdeki Utama actually fell 3.33 percent on its first trading day.
Emdek Utama is a leading calcium carbide producer in Indonesia. However, Chakravarthi Kilambi, Independent Director at Emdeki Utama, said the company's gross revenue grows modestly by 2 - 3 percent (y/y) only as there exists fierce competition from Chinese players. This is the reason why Emdek Utama decided to diversify its business.
Last Update: 22 Nov 2017
IPOs on the Indonesia Stock Exchange up to 25 September 2017
|Company||P: 22 Nov 2017||P: 21 Nov 2017||Gain/Loss||P/E ttm||Yield %||Gain/Loss YTD|
|Forza Land IndonesiaFORZ||775||765||1.31%||N/A||0.00%||88.11%|
|Industri dan Perdagangan Bintraco DharmaCARS||970||975||-0.51%||N/A||0.00%||-44.25%|
|Nusantara Pelabuhan HandalPORT||350||348||0.57%||N/A||0.00%||-39.13%|
|Pelayaran Tamarin SamudraTAMU||3,940||3,700||6.49%||N/A||0.00%||1,463.49%|
|Cahayasakti Investindo SuksesCSIS||830||830||0.00%||N/A||0.00%||48.21%|
|Terregra Asia EnergyTGRA||498||505||-1.39%||N/A||0.00%||46.47%|
|First Indo American Leasing Tbk.FINN||173||144||20.14%||N/A||0.00%||-2.81%|
|Alfa Energi Investama Tbk.FIRE||1,545||1,500||3.00%||N/A||0.00%||106.00%|
|Totalindo Eka Persada Tbk.TOPS||3,050||3,000||1.67%||N/A||0.00%||557.33%|
|Kirana Megatara Tbk.KMTR||535||535||0.00%||N/A||0.00%||-21.90%|
|Hartadinata Abadi Tbk.HRTA||284||284||0.00%||N/A||0.00%||-14.46%|
|MAP Boga Adiperkasa Tbk.MAPB||1,980||1,970||0.51%||N/A||0.00%||-21.43%|
|Armidian Karyatama Tbk.ARMY||196||196||0.00%||N/A||0.00%||-56.44%|
|Buyung Poetra Sembada Tbk.HOKI||360||354||1.69%||N/A||0.00%||5.26%|
|Marga Abhinaya Abadi Tbk.MABA||1,895||1,900||-0.26%||N/A||0.00%||897.37%|
|Megapower Makmur Tbk.MPOW||300||286||4.90%||N/A||0.00%||-11.76%|
|Mark Dynamics Indonesia Tbk.MARK||1,535||1,545||-0.65%||N/A||0.00%||310.43%|
|Ayana Land International Tbk.NASA||400||400||0.00%||N/A||0.00%||128.57%|
|Emdeki Utama Tbk.MDKI||302||304||-0.66%||N/A||0.00%||-47.93%|
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