Sarimelati Kencana & Sriwahana Adityakarta to List on Indonesia Stock Exchange
Two companies are ready to conduct their initial public offering (IPO) on the Indonesia Stock Exchange in the second quarter of 2018. Firstly, Sarimelati Kencana, the operator of Pizza Hut Indonesia, is set to offer a 20 percent stake to the public in May 2018. Secondly, Sriwahana Adityakarta, a company that produces carton boxes, paper cones, and paper tubes, will offer a 22 percent stake to the public in June 2018.
IPO of Sarimelati Kencana on the Indonesia Stock Exchange
Sarimelati Kencana's assets were recorded at IDR 1.4 trillion (approx. USD $102.2 million) per December 2017, while its debt reached IDR 1.1 trillion. The company is expected to list in late May 2018, in the middle of the Ramadan period, when economic activity is usually on the decline in Indonesia, the country which contains the world's biggest Muslim population. The Ramadan period, the holy fasting month for Muslims, will cover the last two weeks of May and first two weeks of June in 2018.
Although Stephen J. McCarthy, President Director of Sarimelati Kencana, is not willing yet to provide details about the corporate move, Indonesia Stock Exchange Director of Corporate Listing Samsul Hidayat said Sarimelati Kencana will use around 60 percent of IPO proceeds for its capital expenditure budget, while the remaining 40 percent will be used for debt payments.
CLSA Sekuritas Indonesia, CIMB Sekuritas Indonesia, and Mandiri Sekuritas have been appointed underwriters for the IPO of Sarimelati Kencana.
IPO of Sriwahana Adityakarta on the Indonesia Stock Exchange
Meanwhile, the IPO of Sriwahana Adityakarta is expected to be completed in June 2018. Appointed as underwriter is NH Korindo Sekuritas Indonesia. A large chunk of the company's IPO proceeds will be allocated for its working capital budget.
Sriwahana Adityakarta's assets currently range between IDR 700 - 800 billion. The company is based in Boyolali (Central Java) where it owns a 42,000 m2-sized factory.
So far in 2018 four companies were added to the Indonesia Stock Exchange in 2018: telecommunication construction services company LCK Global Kedaton, coal miner Borneo Olah Sarana Sukses, helicopter transportation services company Jaya Trishindo, and solar panel manufacturer Sky Energy Indonesia.
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 03 April 2018
| Company | P: 29 Mar 2021 | P: 28 Mar 2021 | Gain/Loss | P/E ttm | Yield % | Gain/Loss YTD |
| LCK Global KedatonLCKM | 254 | 250 | 1.60% | N/A | 0.00% | -34.20% |
| Borneo Olah Sarana SuksesBOSS | 111 | 113 | -1.77% | N/A | 0.00% | -35.09% |
| Jaya TrishindoHELI | 464 | 496 | -6.45% | N/A | 0.00% | 125.24% |
| Sky Energy IndonesiaJSKY | 131 | 130 | 0.77% | N/A | 0.00% | -31.05% |
| Combined Total | 960 | 989 | -2.93% | 0.73% |
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