Jun 15, 2010

SkyBee IPO price at Rp325-Rp425

PT SkyBee is offering IPO price on its initial shares at Rp325-Rp425 per share, allowing it to snap up Rp76 billion to Rp100 billion.
"We have determined to offer IPO price at Rp325-Rp425 per share, reflecting 8.9x-11x of price to earning ratio," said Skybee President Director Hendra Kendro during a press conference today.
SkyBee, mobile phone distributor and content provider, will offload 235 million new shares or 40.17% into the market in Juli 2010.
According to him, the company will use the proceed as working capital and to develop business. PT Lautandhana Securindo is the only IPO underwriter.  
Skybee is now owned by PT Syailendra Capital of 99.99% and Ian Rustandi holds the remaining stakes. Following the IPO, Syailenda will hold 59.82% stakes and public holders own 40,17%.
SkyBee targets a growth in net profit by 400% this year or equals to Rp17 billion-Rp19 billion with sales of Rp700 billion. Last year, it posted Rp3.36 billion of net profit

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