Before the end of 2018 we might be witnessing the trading debut of a "giant company" in Indonesia. Reportedly, food and beverage producer GarudaFood is preparing its initial public offering (IPO) on the Indonesia Stock Exchange. Next week the company, which is part of the Tudung Group (established by Darmo Putro), is expected to conduct a mini expose at the Indonesia Stock Exchange.
Sudhamek Agung Waspodo Sunyoto, Chairman of GarudaFood, confirmed on Tuesday (10/07) that the company has been preparing the IPO and plans to offer 10 percent of its share capital to the public. Indopremier Sekuritas has been appointed as underwriter. However, Sunyoto refrained from providing further details surrounding the corporate move.
Rumors about GarudaFood's IPO have been circulating since last year. According to these rumors the company seeks USD $200 million in fresh funds through the IPO. If the figure is correct it would be one of the biggest IPOs in Indonesia in the past couple of years.
It was also reported by Bloomberg last month that Singapore-based investment company CVC Capital Partners invested USD $150 million in GarudaFood. However, there are few more details regarding this investment.
GarudaFood is one of the biggest food (particularly snacks) and beverage producers in Indonesia with six food and beverage factories as well as 10 original equipment manufacturer (OEM) factories spread across Java.
So far in 2018 a total of 27 companies have been added to the Indonesia Stock Exchange:
Last Update: 30 Nov 2018
IPOs on the Indonesia Stock Exchange up to 11 July 2018
|Company||P: 30 Nov 2018||P: 29 Nov 2018||Gain/Loss||P/E ttm||Yield %||Gain/Loss YTD|
|LCK Global KedatonLCKM||300||312||-3.85%||N/A||0.00%||-3.85%|
|Borneo Olah Sarana SuksesBOSS||2,400||2,270||5.73%||N/A||0.00%||300.00%|
|Sky Energy IndonesiaJSKY||880||895||-1.68%||N/A||0.00%||46.67%|
|Indah Prakasa Sentosa Tbk.INPS||2,040||2,040||0.00%||N/A||0.00%||392.75%|
|Gihon Telekomunikasi Indonesia Tbk.GHON||1,280||1,170||9.40%||N/A||0.00%||-27.07%|
|Tridomain Performance Materials Tbk.TDPM||300||304||-1.32%||N/A||0.00%||-12.28%|
|Dafam Property Indonesia Tbk.DFAM||800||810||-1.23%||N/A||0.00%||310.26%|
|Charnic Capital Tbk.NICK||135||141||-4.26%||N/A||0.00%||-60.29%|
|Bank Tabungan Pensiunan Nasional Syariah Tbk.BTPS||1,715||1,725||-0.58%||N/A||0.00%||17.47%|
|Bank BRIsyariah Tbk.BRIS||540||545||-0.92%||N/A||0.00%||-0.92%|
|Surya Pertiwi Tbk.SPTO||980||985||-0.51%||N/A||0.00%||-17.65%|
|Royal Prima Tbk.PRIM||660||670||-1.49%||N/A||0.00%||-12.00%|
|Medikaloka Hermina Tbk.HEAL||3,050||3,050||0.00%||N/A||0.00%||-3.79%|
|Sarimelati Kencana Tbk.PZZA||900||900||0.00%||N/A||0.00%||-18.55%|
|Guna Timur Raya Tbk.TRUK||132||141||-6.38%||N/A||0.00%||-61.63%|
|Asuransi Tugu Pratama Indonesia Tbk.TUGU||3,390||3,370||0.59%||N/A||0.00%||-5.83%|
|Steadfast Marine Tbk.KPAL||270||286||-5.59%||N/A||0.00%||38.46%|
|Sriwahana Adityakarta Tbk.SWAT||127||127||0.00%||N/A||0.00%||-53.31%|
|MNC Studios International Tbk.MSIN||350||364||-3.85%||N/A||0.00%||-33.33%|
|Trimuda Nuansa Citra Tbk.TNCA||200||197||1.52%||N/A||0.00%||-21.26%|
|Map Aktif Adiperkasa Tbk.MAPA||3,310||3,310||0.00%||N/A||0.00%||5.08%|
|Transcoal Pacific Tbk.TCPI||8,925||8,925||0.00%||N/A||0.00%||3,714.10%|
|Batavia Prosperindo Trans Tbk.BPTR||86||85||1.18%||N/A||0.00%||-49.41%|
|Jaya Sukses Makmur Sentosa Tbk.RISE||500||510||-1.96%||N/A||0.00%||81.16%|
|Indonesia Kendaraan Terminal Tbk.IPCC||1,530||1,535||-0.33%||N/A||0.00%||-10.79%|
|Pollux Properti Indonesia Tbk.POLL||1,760||1,700||3.53%||N/A||0.00%||91.30%|
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