The company's shares rose from IDR 670 to IDR 720 on its first trading day, raising IDR 1 trillion (USD $83.3 million). Approximately a quarter of the funds generated through the IPO will be used for debt settlements. The company currently has a total debt of IDR 1.41 trillion. About two-thirds of the funds raised in the IPO will be used for business expansion (plantation area and processing facilities) and the remainder for working capital.

Sawit Sumbermas Sarana (listed company code SSMS) offered 1.5 billion shares to the public, equivalent to 15.7 percent of its enlarged capital.

Despite the palm oil sector having been hit by global financial turmoil, causing a sharply reduced CPO price, the company's shares during the IPO were oversubscribed due to high demand. Foreign institutional investors, particularly from Malaysia, were eager to buy Sawit Sumbermas Sarana's shares, thus indicating investors' optimism about the long-term prospects of the palm oil business.

The company owns eleven plantations with a total size of 78,000 hectares (33,000 of which is planted) and operates four CPO processing factories and one palm kernel crushing plant.

Sawit Sumbermas Sarana, a subsidiary of Citra Borneo Indah, was the 29th company that conducted its IPO on the Indonesia Stock Exchange in 2013:

Last Update: 15 Oct 2019
Initial Public Offerings on the Indonesia Stock Exchange in 2013
CompanyP: 15 Oct 2019P: 14 Oct 2019Gain/LossP/E ttmYield %Gain/Loss YTD
Acset IndonusaACST1,1001,0851.38%N/A0.00%-28.10%

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

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