Tridomain Performance Materials Prepares IPO on Indonesia Stock Exchange
Tridomain Performance Materials, a company with its roots in Singapore, is planning to release 40 percent of its total share capital through an initial public offering (IPO) on the Indonesia Stock Exchange. Sinarmas Sekuritas has been appointed as underwriter.
Choi Choon Ha, President Director of Tridomain Performance Materials, said the company (incorporated in Indonesia in 2003) is a holding company that has four subsidiaries in Indonesia, all focused on chemical manufacturing. The four subsidiaries are Eternal Buana Chemical Industries (located in Tangerang, Banten), Eterindo Nusa Graha (located in Gresik, East Java), Tridomain Chemicals (in Merak, Banten), and Petronika (in Gresik, East Java).
Besides domestic customers, Tridomain Performance Materials also exports its products abroad, most notably to Asia Pacific countries, the Middle East, Australia and New Zealand. Most customers are companies engaged in infrastructure development, construction, automotive manufacturing, and the manufacturing industry.
Products of Tridomain Performance Materials include water-based resins, solvent-based coating resins, plasticizers, acrylamides, electric/telecommunication cables, bags and furniture.
Tridomain Performance Materials' assets reached USD $217 million per September 2017, while its equity was recorded at USD $98 million.
So far in 2018, one company has been added to the Indonesia Stock Exchange. On Tuesday (16/01) telecommunication construction services company LCK Global Kedaton made its trading debut in Indonesia, after offering 200 million shares to the public, equivalent to 20 percent of the company's equity.
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