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Gummy giant Yupi seeks IPO to fund new factory, global expansion
Approximately 77 percent of the net proceeds will be allocated for capital expenditures, primarily for the construction of a new plant in Nganjuk, East Java
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Product from gummy candy maker PT Yupi Indo Jelly Gum. The company leads the soft candy subcategory, holding a 66.5 percent share in Indonesia, according to a Euromonitor report in November 2024. (Yupi Indo Jelly Gum/-)
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ndonesia’s largest gummy candy maker PT Yupi Indo Jelly Gum plans to raise as much as Rp 2.13 trillion (US$136 million) through an initial public offering (IPO) to fund a new manufacturing facility and support business expansion.
Under ticker YUPI, the company seeks to offer up to 854 million shares at Rp 2,100 to Rp 2,500 apiece in the IPO with shares set to debut on the Indonesia Stock Exchange (IDX) on March 21, according to its preliminary prospectus published on Thursday.
"Approximately 77 percent of the net proceeds will be allocated for capital expenditures, primarily for the construction of a new plant in Nganjuk, East Java," the company said in its prospectus, which would be its third facility in Indonesia.
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The facility, expected to begin operations in 2026, is estimated to cost around Rp 437.5 billion in investment.
Meanwhile, the remaining 23 percent of its proceeds would go as working capital to support business expansion in both domestic and international markets.
Founded in 1995, Yupi ranks among the largest gummy candy producers in Asia, selling products across nine Southeast Asian countries and 36 other nations worldwide.
