Initial Public Offering (IPO) Puradelta Lestari on Indonesia Stock Exchange
Industrial estate developer Puradelta Lestari, unit of Singapore-listed Sinarmas Land Ltd, was listed on the Indonesia Stock Exchange (IDX) on Friday (29/05) thus becoming the fifth firm to go public on the IDX in 2015. Through the initial public offering (IPO) Puradelta Lestari raised IDR 1 trillion (USD $76 million) by offering 4.8 billion shares to the public, equivalent to ten percent of the company’s enlarged capital, for a price of IDR 210 per share. On the first trading day, shares of the company rose 4.29 percent.
Puradelta Lestari, established in 1993, is the developer of Kota Deltamas in Cikarang (West Java), located some 40 kilometers east of Jakarta. This is one of the largest examples of integrated industrial estate development in the Greater Jakarta region. Deltamas, a 3,049 hectare-sized estate, involves industrial development (47 percent), commercial development (25 percent) and residential development (28 percent).
The main business activities of the company are the construction of housing (complete with supporting facilities), house shops including supporting infrastructure, and the selling and renting of these properties. In addition, Puradelta Lestari is also engaged in the development and utilization of industrial zones and supporting facilities.
Prior to the IPO, shares of Puradelta Lestari were held by AFP International Capital Pte. Ltd. (45.97 percent), Fame Bridge Investments Ltd (25.00 percent), Sojitz Corporation (25.00 percent), Jermina Limited (2.74 percent), and Sumber Arusmulia (1.29 percent). The Sinarmas Group has a major influence as it directly controls 100 percent of the shares of AFP International Capital Pte. Ltd., and, indirectly, 100 percent of the shares of Jermina Limited and Sumber Arusmulia.
Previously, Puradelta Lestari announced that 60 percent of the proceeds from the IPO will be used to build infrastructure and engage in other property investment. Thirty percent will be used to acquire additional land, and the remaining ten percent will be used for working capital.
Stock Quote Puradelta Lestari - DMAS:
In 2014, Puradelta Lestari pocketed IDR 1.53 trillion (USD $118 million) worth of revenues, down from IDR 1.82 trillion a year earlier. Of last year’s total revenue, the industrial segment accounted for the majority at 52 percent (IDR 799.6 billion), followed by the commercial segment at 45 percent (IDR 694.5 billion), and the residential segment at 3 percent (IDR 44.2 billion). Net profit in 2014 stood at IDR 964.1 billion (USD $74 million).
There are now 510 companies listed on the Indonesia Stock Exchange. The benchmark stock index of Indonesia (Jakarta Composite Index, abbreviated IHSG) fell 0.40 percent on Friday (29/05).
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 29 May 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% |
| Combined Total | 4,090 | 4,124 | -0.82% | 8.29% |
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