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Jakarta Post

Japan-based diaper producer to launch Indonesia’s biggest IPO this year

  • Riska Rahman

    The Jakarta Post

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jakarta   /   Tue, November 26, 2019   /  03:31 pm
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PT Uni-Charm Indonesia plans to sell about 20 percent of its enlarged shares during an initial public offering (IPO) to be held in December this year.(Shutterstock/File)

PT Uni-Charm Indonesia, the local arm of a Japan-based diaper and feminine-care firm, Unicharm, plans to soon launch Indonesia’s largest initial public offering (IPO) to raise funds to pay debts and expand production capacity. The company expects to raise between  Rp 1.16 trillion (US$82.85 million) and Rp 1.5 trillion in fresh funds from sales of 831.31 million new shares, about 20 percent of the company’s enlarged capital. The shares are to be offered to the public in December this year for between Rp 1,400 and Rp 1,800 apiece. Should Uni-Charm be able to sell its shares at its maximum offering price, it would become the largest IPO on the Indonesia Stock Exchange (IDX) this year. Currently, biggest IPO is held by steelmaker Gunung Raja Paksi, which raised Rp 1.03 trillion during its IPO in September. Although transactions involving shares sale of firm Asur...