Metropolitan Kentjana lists shares in local bourse
Ika Krismantari, The Jakarta Post, Jakarta | Fri, 07/10/2009 11:47 AM
The operator of Pondok Indah Shopping Malls, PT Metropolitan Kentjana, listed its shares in the Indonesia Stock Exchange on Friday, becoming the 400th company to lists its shares in the local bourse's main board.
The listing followed the company's previous initial public offering (IPO) held from July 1 until 3.
During the IPO, the company offered 10 percent of its shares at the price of Rp 2,100 (20 US cents) each and managed to secure Rp 199.5 billion in proceeds.
Metropolitan president director Husin Widjajakusuma said on Friday that the company would use 50-percent of the proceeds to finalize the construction of Pondok Indah 3 Golf Apartment, 25-percent to renovate and upgrade facilities in Pondok Indah Mall 1 and the remaining would be allocated for working capital.
Husin said that the company targeted an 11-percent increase in revenue and 10-percent rise in net profit this year.
The company booked Rp 604 billion in revenue and Rp 213 billion in net profit last year.
