TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsFood, beverage holding company first to go public this year
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
The commissioners and directors of PT Sentra Food Indonesia pose for a photograph after the company listed its shares on the Indonesian Stock Exchange on Jan. 8. (kompas.com/Mutia Fauzia)
F
ood and beverage holding company PT Sentra Food Indonesia has become the first company to be publicly listed on the Indonesia Stock Exchange (IDX) this year.
It raised Rp 20.3 billion (US$1.42 million) from the sale of 150 billion shares during the initial public offering (IPO) on Jan. 2.
This amounts to 23.7 percent of the company’s shares, 76.92 percent of which are owned by parent company PT Super Capital Indonesia, while Sentra Food president director Agustus Sani Nugroho owns 0.01 percent.
PT Super Capital Indonesia also owns gas company PT Super Energy, which went public two months ago.
Sentra Food said in a statement that all IPO funds would be channeled into PT Kemfoods, a subsidiary food manufacturer that produces, among other things, sausages.
Agustus told reporters that the funds would be used as working capital to finance the acquisition of meat and to purchase equipment to increase the production capacity from 150 to 200 tons per month.
During the IPO, PT Jasa Utama Capital Sekuritas acted as the underwriter.
Jasa Utama vice president for investment banking Aga Nugraha told The Jakarta Post that he was confident about Sentra Food’s growth because it sold a range of products catering for the middle- to upper-class segment, which was almost certain to increase consumption.
He added that Sentra Food had made a strategic move to acquire Kemfoods because it was already a solid brand. (bbn)
