IPO of Golden Plantation on the Indonesia Stock Exchange

Golden Plantation, a unit of Tiga Pilar Sejahtera Food, offered 800 million shares, equivalent to 21.8 percent of the company’s total equity, through the IPO raising IDR 230.4 billion (USD $18.4 million). Managing Director of Golden Plantation, Budhi Istanto Suwito, said that 21 percent of the proceeds will be used to acquire Bailangu Capital Investment, 38 percent for the acquisition of Persada Natural Green, and 41 percent for capital expenditures (capex) and working capital.

The company has a palm oil processing capacity of 30 tons of fresh fruit bunches (FFB) per hour and aims to boost this figure to 45 tons by 2017.

The palm oil producer targets to achieve net profit growth of around 10-15 percent in 2015. In the first half of 2014 Golden Plantation’s operating profit was IDR 10.8 billion (USD $864,000).

Director of the IDX, Ito Warsito, commented on Tuesday (23/12) that the increase in number of publicly listed companies in Indonesia supports to improve the liquidity in domestic capital markets and increase the market capitalization of the stock exchange. He added that a publicly listing is positive for local companies as it leads to better corporate management as well as enhanced transparency and accountability.

Last Update: 29 Mar 2021

IPOs on the Indonesia Stock Exchange up to 23 December 2014

Company	P: 29 Mar 2021	P: 28 Mar 2021	Gain/Loss	P/E ttm	Yield %	Gain/Loss YTD
Bank Panin SyariahPNBS	83	82	1.22%	N/A	0.00%	-4.60%
Asuransi Mitra Maparya Tbk.ASMI	925	930	-0.54%	N/A	0.00%	-6.57%
Bank Ina Perdana Tbk.BINA	1,560	1,550	0.65%	N/A	0.00%	64.21%
Capitol Nusantara Indonesia Tbk.CANI	186	186	0.00%	N/A	0.00%	22.37%
Tunas Alfin Tbk.TALF	310	258	20.16%	N/A	0.00%	13.97%
Bali Towerindo Sentra Tbk.BALI	700	690	1.45%	N/A	0.00%	-6.04%
Wijaya Karya BetonWTON	334	344	-2.91%	N/A	0.00%	-20.85%
Graha Layar PrimaBLTZ	4,600	4,650	-1.08%	N/A	0.00%	53.85%
Intermedia Capital Tbk.MDIA	63	66	-4.55%	N/A	0.00%	3.28%
Eka Sari Lorena TransportLRNA	180	185	-2.70%	N/A	0.00%	1.69%
Link NetLINK	3,240	3,200	1.25%	N/A	0.00%	25.10%
Chitose InternasionalCINT	238	244	-2.46%	N/A	0.00%	-6.30%
Magna Finance Tbk.MGNA	50	50	0.00%	N/A	0.00%	0.00%
Batavia Prosperindo Internasional Tbk.BPII	7,300	7,300	0.00%	N/A	0.00%	-15.12%
Mitrabara AdiperdanaMBAP	2,810	2,800	0.36%	N/A	0.00%	1.08%
Sitara Propertindo Tbk.TARA	50	50	0.00%	N/A	0.00%	0.00%
Bank Dinar Indonesia Tbk.DNAR	196	210	-6.67%	N/A	0.00%	6.52%
Impack Pratama Industri Tbk.IMPC	1,455	1,460	-0.34%	N/A	0.00%	5.82%
Bank Agris Tbk.AGRS	464	498	-6.83%	N/A	0.00%	123.08%
Intan Baruprana Finance Tbk.IBFN	171	180	-5.00%	N/A	0.00%	-40.21%
Golden PlantationGOLL	50	50	0.00%	N/A	0.00%	0.00%
Combined Total	24,965	24,983	-0.07%			7.27%

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

Further Reading:

• Overview and Analysis of the Palm Oil Industry in Indonesia
• Initial Public Offerings on the Indonesia Stock Exchange in 2014

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