Wahana Vinyl Nusantara Preparing IPO on Indonesia Stock Exchange
Wahana Vinyl Nusantara, an Indonesia-based pipe-producer (the hollow cylinder type for fluid conveyance), plans to conduct an initial public offering on the Indonesia Stock Exchange in the first half of 2018. Stephen Widjaja, President Director of the company, said Wahana Vinyl Nusantara will offer a maximum stake of 20 percent (of the company's total share equity) to the public.
The proceeds that will be obtained through the IPO are to be allocated for Wahana Vinyl Nusantara's business expansion, including the expansion of the company's production capacity. However, at this stage Widjaja refrained from giving any more details.
Wahana Vinyl Nusantara is the biggest pipe manufacturer in Indonesia, controlling an estimated 50 percent of the market. Its products are sold under the Rucika brand. Its production capacity is currently estimated at 200,000 tons of pipes per year.
The company also wants to tap the export market and therefore seeks partnerships with Japanese and European counterparts. Next year Wahana Vinyl Nusantara wants to start exporting its pipe products to Asian markets.
Wahana Vinyl Nusantara assigned three underwriters for the IPO on the Indonesia Stock Exchange: RHB Sekuritas, Mandiri Sekuritas, and Citigroup Sekuritas Indonesia.
The pipe manufacturer currently has manufacturing plants in four locations: Cibitung, Karawang, Lemah Abang and Mojokerto (all on the island of Java). It further owns three distribution centers in Tangerang (West Java), Medan (North Sumatra) and Mojokerto (East Java).
The Indonesia Stock Exchange confirmed that there are 16 IPOs in the pipeline at the moment, including three state-owned enterprises (Wijaya Karya Realty, Bank Rakyat Indonesia Syariah, and Tugu Pratama Indonesia).
So far this year, however, only two companies were added to the Indonesia Stock Exchange: telecommunication construction services company LCK Global Kedaton and coal miner Borneo Olah Sarana Sukses.
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 13 March 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% |
| Combined Total | 365 | 363 | 0.55% | -34.47% |
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