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.

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One of Indonesia's leading industrial estate developers, Puradelta Lestari, could see its sales rise on the back of Indonesia's tax amnesty program and the improving domestic economy. According to CIMB Securities, the company has three strengths that will enable it to see higher sales and profit in the years ahead: (1) the strategic location of its industrial estate Kota Deltamas, (2) having the biggest land banks at its disposal, and (3) strong internal cash reserves.

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