Stock Exchange: Tugu Pratama Indonesia to IPO in H1-2018
Tugu Pratama Indonesia, an Indonesia-based general insurance company, announced it will not conduct its initial public offering (IPO) on the Indonesia Stock Exchange in 2017 as initially targeted. Instead, it now targets to become a publicly listed company in the first half of 2018. Corporate Secretary Syaiful Azhar said there were several internal and external obstacles that blocked the IPO.
Postponing the IPO will not have a negative impact on the corporate performance of Tugu Pratama Indonesia, Azhar said, because the IPO is not so much about generating funds for business expansion, but more about enhancing the company's transparency and good corporate governance.
So far this year several business segments of the company are experiencing a slowdown, specifically energy insurance and property insurance. Therefore, Tugu Pratama Indonesia may only collect USD $260 million of premiums, 90 percent of the company's target in 2017. This slowdown is due to reduced activities in the energy and property sectors of Indonesia. Therefore, the company plans to increase its focus on the retail sector as this business segment continues to grow rapidly. Currently, the retail sector contributes less than 20 percent to the company's total received premiums.
However, Azhar did not inform about the size of the stake that will be offered to the public in the IPO. Currently, Tugu Pratama Indonesia has the following shareholders: Pertamina (65 percent), Sakti Laksana Prima (17.6 percent), Siti Taskiyah (12.15 percent), and M. Satya Permadi (5.25 percent).
Tugu Pratama Indonesia is not the only company that postponed its IPO on the Indonesia Stock Exchange beyond 2017. Other examples are Wijaya Karya Realty, PP Urban, PP Energi and HK Realtindo.
So far this year a total of 21 have conducted an IPO on the Indonesia Stock Exchange:
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 24 September 2017
| Company | P: 29 Mar 2021 | P: 28 Mar 2021 | Gain/Loss | P/E ttm | Yield % | Gain/Loss YTD |
| Sanurhasta MitraMINA | 79 | 64 | 23.44% | N/A | 0.00% | 58.00% |
| Forza Land IndonesiaFORZ | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Industri dan Perdagangan Bintraco DharmaCARS | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Nusantara Pelabuhan HandalPORT | 490 | 498 | -1.61% | N/A | 0.00% | 16.11% |
| Sariguna PrimatirtaCLEO | 468 | 466 | 0.43% | N/A | 0.00% | -9.13% |
| Pelayaran Tamarin SamudraTAMU | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Cahayasakti Investindo SuksesCSIS | 80 | 76 | 5.26% | N/A | 0.00% | 25.00% |
| Terregra Asia EnergyTGRA | 140 | 142 | -1.41% | N/A | 0.00% | -49.28% |
| First Indo American Leasing Tbk.FINN | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Alfa Energi Investama Tbk.FIRE | 590 | 605 | -2.48% | N/A | 0.00% | -48.47% |
| Totalindo Eka Persada Tbk.TOPS | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Kirana Megatara Tbk.KMTR | 416 | 414 | 0.48% | N/A | 0.00% | 20.93% |
| Hartadinata Abadi Tbk.HRTA | 206 | 208 | -0.96% | N/A | 0.00% | -11.21% |
| Integra IndocabinetWOOD | 770 | 750 | 2.67% | N/A | 0.00% | 19.38% |
| MAP Boga AdiperkasaMAPB | 1,330 | 1,330 | 0.00% | N/A | 0.00% | 3.10% |
| Armidian Karyatama Tbk.ARMY | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Buyung Poetra Sembada Tbk.HOKI | 252 | 254 | -0.79% | N/A | 0.00% | -76.34% |
| Marga Abhinaya Abadi Tbk.MABA | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Megapower Makmur Tbk.MPOW | 82 | 80 | 2.50% | N/A | 0.00% | 22.39% |
| Mark Dynamics Indonesia Tbk.MARK | 1,070 | 1,020 | 4.90% | N/A | 0.00% | -1.83% |
| Ayana Land International Tbk.NASA | 104 | 104 | 0.00% | N/A | 0.00% | 0.00% |
| Combined Total | 6,427 | 6,361 | 1.04% | -16.09% |
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