Golden Plantation, a unit of Tiga Pilar Sejahtera Food, offered 800 million shares, equivalent to 21.8 percent of the company’s total equity, through the IPO raising IDR 230.4 billion (USD $18.4 million). Managing Director of Golden Plantation, Budhi Istanto Suwito, said that 21 percent of the proceeds will be used to acquire Bailangu Capital Investment, 38 percent for the acquisition of Persada Natural Green, and 41 percent for capital expenditures (capex) and working capital.

The company has a palm oil processing capacity of 30 tons of fresh fruit bunches (FFB) per hour and aims to boost this figure to 45 tons by 2017.

The palm oil producer targets to achieve net profit growth of around 10-15 percent in 2015. In the first half of 2014 Golden Plantation’s operating profit was IDR 10.8 billion (USD $864,000).

Director of the IDX, Ito Warsito, commented on Tuesday (23/12) that the increase in number of publicly listed companies in Indonesia supports to improve the liquidity in domestic capital markets and increase the market capitalization of the stock exchange. He added that a publicly listing is positive for local companies as it leads to better corporate management as well as enhanced transparency and accountability.

Last Update: 30 Nov 2018
IPOs on the Indonesia Stock Exchange up to 23 December 2014
CompanyP: 30 Nov 2018P: 29 Nov 2018Gain/LossP/E ttmYield %Gain/Loss YTD
Bank Panin SyariahPNBS50500.00%N/A0.00%-24.24%
Asuransi Mitra Maparya Tbk.ASMI640655-2.29%N/A0.00%-28.49%
Bank Ina Perdana Tbk.BINA540545-0.92%N/A0.00%-44.04%
Capitol Nusantara Indonesia Tbk.CANI1621620.00%N/A0.00%-36.72%
Tunas Alfin Tbk.TALF33629812.75%N/A0.00%-19.62%
Bali Towerindo Sentra Tbk.BALI1,6851,6850.00%N/A0.00%10.13%
Wijaya Karya BetonWTON3663660.00%N/A0.00%-26.51%
Graha Layar PrimaBLTZ4,4004,450-1.12%N/A0.00%-56.00%
Intermedia Capital Tbk.MDIA1431402.14%N/A0.00%-14.88%
Eka Sari Lorena TransportLRNA103104-0.96%N/A0.00%8.42%
Link NetLINK5,2754,9905.71%N/A0.00%-2.31%
Chitose InternasionalCINT2342320.86%N/A0.00%-29.94%
Magna Finance Tbk.MGNA50500.00%N/A0.00%-37.50%
Batavia Prosperindo Internasional Tbk.BPII6,5006,5000.00%N/A0.00%8.33%
Mitrabara AdiperdanaMBAP3,0903,0800.32%N/A0.00%6.55%
Sitara Propertindo Tbk.TARA9508906.74%N/A0.00%18.75%
Bank Dinar Indonesia Tbk.DNAR3183141.27%N/A0.00%17.78%
Impack Pratama Industri Tbk.IMPC8958950.00%N/A0.00%-17.89%
Bank Agris Tbk.AGRS232238-2.52%N/A0.00%-1.69%
Intan Baruprana Finance Tbk.IBFN2702700.00%N/A0.00%45.16%
Golden PlantationGOLL50500.00%N/A0.00%-48.98%
Combined Total26,28925,9641.25%-18.57%

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

Further Reading:

Overview and Analysis of the Palm Oil Industry in Indonesia
Initial Public Offerings on the Indonesia Stock Exchange in 2014

Discuss