Graha Layar Prima Conducts IPO on the Indonesia Stock Exchange
According to the prospectus that was published on Monday (17/03), Graha Layar Prima will offer 140 million new shares, or 46.11 percent of the company's enlarged capital, to investors in an initial public offering (IPO) on the Indonesia stock exchange (IDX). Graha Layar Prima operates a cinema chain (known as Blitzmegaplex) that is present in several big Indonesian cities, including Jakarta, Bandung, Bekasi, Tangerang and Balikpapan. Funds that are gained through the IPO will all be used for the establishment of seven new cinemas.
The new cinemas will be established in Bandung, Yogyakarta, Jakarta, Bogor, Surabaya and Karawang (all on Indonesia's most populous island of Java). Construction should start this year and finish in 2015.
Indo Premier Securities has been appointed as underwriter for the IPO.
Per 30 September 2013, Graha Layar Prima posted net earnings of IDR 228.7 billion (USD $20.1 million), a 40.3 percent increase from the same period in 2012. Total assets increased 73 percent to IDR 623.1 billion (USD $54.7 million) but the company posted a net loss of IDR 3.73 billion (USD $0.3 million) over the same period. Its listing on the stock exchange is scheduled for 11 April 2014.
Up to 17 March 2014, six Indonesian companies have conducted an IPO on the Indonesia Stock Exchange (IDX) so far this year. The IDX targets to welcome a total of 30 new listed companies in 2014. Currently, 489 companies are listed on the IDX.
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