Update COVID-19 in Indonesia: 4,223,094 confirmed infections, 142,413 deaths (06 October 2021)
17 October 2021 (closed)
Jakarta Composite Index (6,633.34) +7.22 +0.11%
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
Sri Rejeki Isman (Sritex), an integrated textile manufacturer, is offering 5.6 billion new shares (equivalent to 30 percent of its total stock equity) to the public through an initial public offering (IPO) on the Indonesia Stock Exchange (IDX). The company expects to reap about IDR 1.34 trillion (USD $136.7 million) in new funds through this IPO. The offering period is from 10 to 12 June 2013 and its listing debut is scheduled for Monday 17 June 2013. Underwriter for the IPO is Bahana Securities.
The IPO price is set at IDR 240 per share. About 85 percent of the funds that are gained through the IPO will be used for business expansion. The remainder is reserved for working capital. The IPO price reflects a price to earnings ratio (P/E ratio) of 13 times, while Indonesia's garment industry has a general P/E ratio of 12.5 times.
Sritex manufactures yarn, greige, fabrics and apparel that are sold to textile producers and retailers in 55 countries. The company owns nine spinning facilities, three dyeing units, three weaving plants, seven garment production units, a printing facility as well as fiber and rayon plantations.
Buyers of Sritex' products include Timberland, JCPenny, Quicksilver, Zara and Sears.
Financial Highlights of Sritex:
in billion of IDR rupiah
Source: Company Prospectus