Wika Beton Preparing IPO on the Indonesia Stock Exchange in Q1-2014
Wika Beton, a subsidiary of majority state-owned construction company Wijaya Karya, will sell over 20 percent of its enlarged capital in an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) in the first quarter of 2014. The company, which has appointed Bahana Securities, Mandiri Sekuritas, Danareksa Sekuritas and Sucorinvest Central Gani to act as underwriters for the IPO, expects a 20 percent increase (yoy) in revenue to IDR 2.4 trillion in 2013, and targets a similar growth rate in 2014.