IPO News Indonesia: Madusari Murni Indah to Sell 30% Stake
Madusari Murni Indah, a company that is engaged in the production of ethanol and carbon dioxide gas (CO2), is set to sell a 30 percent stake to the public through an initial public offering (IPO) on the Indonesia Stock Exchange. Yonky Saputra, Corporate Secretary of Madusari Murni Indah, said the company appointed Bahana Sekuritas as underwriter. In July 2018 the company is expected to make its trading debut in Indonesia.
At this moment Saputra refrains from sharing information about the amount of funds Madusari Murni Indah targets to collect through the IPO. However, he did inform that 95 percent of the IPO proceeds will be used for the development of the company's second factory. The remaining 5 percent will be used to expand the company's distribution network (particularly involving the development of new distribution warehouses).
The reason why Madusari Murni Indah wants to build a second factory is because the company's existing factory (located in Lawang, East Java) is already operating at full capacity, hence there is no more room for production growth. This existing factory can produce up to 80,000 kiloliters of ethanol and CO2 per year. The new factory will add 50,000 kiloliters of production capacity.
Besides supplying the domestic market Madusari Murni Indah also exports its products to overseas markets, mainly the Philippines, Vietnam, and Thailand. Around 30-40 percent of the company's total revenue is estimated to originate from foreign markets.
Madusari Murni's assets stand at IDR 1.5 trillion (approx. USD $108 million), while the company's equity reached around IDR 1 trillion.
So far in 2018 twenty companies have been 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, chemical manufacturing company Tridomain Performance Materials, property developer Dafam Property Indonesia, financial institutions Bank Tabungan Pensiunan Nasional Syariah and Bank BRISyariah, investment company Charnic Capital, sanitary ware company Surya Pertiwi, hospital operators Royal Prima and Medikaloka Hermina, pizza hut operator Sarimelati Kencana, transportation services provider Guna Timur Raya, general insurance company Asuransi Tugu Pratama Indonesia, shipbuilding company Steadfast Marine, corrugated carton box and paper mills manufacturer Sriwahana Adityakarta, and television content provider MNC Studios International.
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 19 June 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% |
| Combined Total | 19,822 | 20,121 | -1.49% | -12.40% |
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