IPO News Indonesia: Binakarya Jaya Abadi & Anabatic Technologies
Two companies announced to conduct an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) this month in order to raise funds for further business expansion. These companies are property developer Binakarya Jaya Abadi and IT solutions provider Anabatic Technologies. Up to the start of June, a total of five companies have been listed (including the relisting of Mitra Energi Persada) on the IDX this year. The IDX targets to list a total of 32 companies on the exchange this year.
Binakarya Jaya Abadi, affiliated with the Agung Sedayu Group, seeks to raise around IDR 275 billion (USD $20.8 million) from an IPO later this month by offering 20 percent of its enlarged share capital to the public, pending approval from the country’s Financial Services Authority (OJK).
The property developer seeks to raise funds in order to finance business expansion in 2015. The company plans to launch a number of property projects in Muara Baru and Pluit (North Jakarta), Samarinda and Balikpapan (East Kalimantan), Yogyakarta (Java), Makassar (South Sulawesi), and Manado (North Sulawesi).
Meanwhile, Jakarta-based Anabatic Technologies will offer around 30 percent of its enlarged share capital to the public between Thursday (04/06) and 16 June 2015 (although the company has not yet published the offering price). The IT solutions provider is scheduled to be listed on the IDX on 6 July 2015.
The company is eager to IPO on the IDX in order to collect funds for further business expansion and debt repayment. Around 60 percent of the proceeds from the IPO will be used to finance business expansion, product development, and research. Part of this business expansion involves the opening of branches in Vietnam, Malaysia and Thailand. Around 20 percent is to be used to repay debt to Bank Resona Perdania, Bank OCBC NISP, and Bank Permata. The remaining 20 percent will be used as working capital. The underwriter for the IPO is Bahana Securities.
Anabatic Technologies was founded in 2002 and is part of the Titan Group. The company focuses on providing integrated IT solutions for a variety of businesses (such as banking, telecommunications, and pharmaceuticals) and has four business divisions: system integration, value-added distribution, IT outsourcing, and business process outsourcing. With assets of more than IDR 1.5 trillion, the company may be among the five largest IT companies in Indonesia.
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 1 June 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