Wika Beton Sets Share Price at IDR 590 for IPO on Indonesia Stock Exchange

Wika Beton, a subsidiary of majority state-owned construction company Wijaya Karya (WIKA), specializes in the precast concrete industry of Indonesia.

Listing of Wika Beton on the IDX is scheduled for 3 April 2014. The company will issue two billion shares, or 23.47 percent of its enlarged capital, and expects to raise up to IDR 1.28 trillion (roughly USD $115 million) through this corporate action. Underwriters are Bahana Securities, Danareksa Sekuritas, Mandiri Sekuritas and Sucorinvest Central Gani.

Of the funds that are generated through the IPO, 85 percent will be used for business expansion and the remainder for additional working capital. With regard to business expansion, 39.5 percent will be spent on the construction of Wika Beton’s new facilities (four new precast concrete plants in Lampung, Cilegon, Makassar and Pasuruan), 19.4 percent on increasing production capacity at existing plants, 19.4 percent on purchases of new equipment and 18.5 percent on processing raw materials from its quarries. Wika Beton also plans to acquire a precast concrete company in Batam (Riau Islands). With the four new plants and the take-over of a company in Batam, Wika Beton’s annual precast concrete production is expected to grow 15 percent from two million tons currently. Currently, the company has a 43 percent market share in Southeast Asia's largest economy.

Visit official website of Wika Beton

Wika Beton Financial Highlights:

	2013	Annual % Growth
Total Assets	IDR 2.90 trillion
Operating Revenue	IDR 2.63 trillion	+30%
Operating Profit	IDR 336.2 billion	+45%
Net Profit	IDR 241.2 billion	+35.5%

^{Source: Prospectus Wika Beton}

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