Successful IPO Dua Putra Utama Makmur on Indonesia Stock Exchange
Shares of newly-listed Dua Putra Utama Makmur soared on Tuesday (08/12) at its debut on the Indonesia Stock Exchange (IDX). Shares of the fish processing firm, the 15th company to be welcomed on the IDX in 2015, climbed 50 percent to finish at IDR 825 per share. Dua Putra Utama Makmur offered 40 percent (1.67 billion new shares) of its total equity at a price of IDR 550 per share, hence raising IDR 918.5 billion (approx. USD $67 million).
Investor appetite for the company's shares was high, presumably on the back of the Indonesian government's commitment to turn Indonesia into a maritime powerhouse and increase the role of the fishery sector in the economy. The initial public offering (IPO) was oversubscribed 10.56 times. About two-thirds of shares were purchased by domestic investors. DBS Vickers Securities Indonesia, Sucorinvest Central Gani and BNI Securities had been appointed as joint underwriters for the IPO.
Witiarso Utomo, President Director of Dua Putra Utama Makmur, commented on the IPO saying he is "proud to be the first integrated fishery company to list on the IDX in the past 15 years."
The fish processing company announced it plans to spend about IDR 200 billion of the proceeds it generated through the IPO on the construction of a new 16,000-ton cold storage facility (including equipment). About IDR 130 billion will be used to purchase a purse seine fishing boat, while the remainder is to be allocated as working capital. The cold storage facility is scheduled to come online in mid-2016, raising the company's production capacity to 20,000 tons.
In the first six months of 2015 Dua Putra Utama Makmur recorded net profit of IDR 30.6 billion (approx. USD $2.2 million), up 155 percent from net profit in the same period last year. Net revenue grew 131 percent to IDR 277 billion over the same period.
Regarding sales in 2016, the company aims to raise exports to make up 40 percent of the company's total sales, from 20 percent currently (mostly shipped to Japan, South Korea and Malaysia). Dua Putra Utama Makmur is particularly interested to export its fish products to Europe and the USA. Finance Director Indra Afriadi said the company has just secured an export license to the USA.
Stock Quote Dua Putra Utama Makmur - DPUM:
Several companies are still expected to list on the IDX before the end of 2015. These firms are fast-moving consumer goods company Kino Indonesia, construction firm Indonesia Pondasi Raya (Indopora), rice producer Buyung Poetra Sembada, boiler manufacturer Ateliers Mecanique D'Indonesie (Atmindo), and radio broadcast company Mahaka Radi Integra.
Further Reading:
• IPO Dua Putra Utama Makmur on the Indonesia Stock Exchange
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 8 December 2015
| Company | P: 29 Mar 2021 | P: 28 Mar 2021 | Gain/Loss | P/E ttm | Yield % | Gain/Loss YTD |
| Bank Yudha BhaktiBBYB | 498 | 494 | 0.81% | N/A | 0.00% | 40.68% |
| Mitra Keluarga KaryasehatMIKA | 2,720 | 2,750 | -1.09% | N/A | 0.00% | 4.62% |
| Mitra Energi PersadaKOPI | 565 | 565 | 0.00% | N/A | 0.00% | 13.00% |
| PP Properti Tbk.PPRO | 75 | 77 | -2.60% | N/A | 0.00% | -19.35% |
| Puradelta LestariDMAS | 232 | 238 | -2.52% | N/A | 0.00% | 0.87% |
| Mega Manunggal PropertyMMLP | 358 | 376 | -4.79% | N/A | 0.00% | 24.31% |
| Merdeka Copper GoldMDKA | 2,300 | 2,330 | -1.29% | N/A | 0.00% | -2.13% |
| Bukaka Teknik Utama Tbk.BUKK | 880 | 870 | 1.15% | N/A | 0.00% | -11.11% |
| Garuda Metalindo Tbk.BOLT | 715 | 710 | 0.70% | N/A | 0.00% | -10.63% |
| Anabatic Technologies Tbk.ATIC | 705 | 665 | 6.02% | N/A | 0.00% | -17.06% |
| Binakarya Jaya Abadi Tbk.BIKA | 163 | 175 | -6.86% | N/A | 0.00% | -17.26% |
| Bank Harda Internasional Tbk.BBHI | 1,285 | 1,380 | -6.88% | N/A | 0.00% | 33.16% |
| Victoria Insurance Tbk.VINS | 111 | 112 | -0.89% | N/A | 0.00% | 23.33% |
| Mitra Komunikasi Nusantara Tbk.MKNT | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Dua Putra Utama Makmur Tbk.DPUM | 50 | 50 | 0.00% | N/A | 0.00% | -1.96% |
| Combined Total | 10,707 | 10,842 | -1.25% | 2.87% |
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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