Aug 24, 2010

Aditech & Midi Utama plan to go IPO

Two companies namely PT Aditech Cakrawiyasa and PT Midi Utama Indonesia plan to list their stocks at Indonesia Stock Exchange (IDX) in September or October. "Two companies may list their stocks at IDX," said IDX Director Eddy Sugito.
Aditech is gas-based stove namely Quantum and gas producer. They have file IPO documents to IDX. Aditech General Manager Heri Sugiarto said the company had submitted the IPO documents last week. "We plan to raise below Rp500 billion from the IPO," he said as reported by Kontan daily.
Aditech has mandated PT Dinamika Usahajaya as the IPO underwriter. Midi Utama is license holder for Alfa Midi, affiliated company of PT Sumber Alfaria Trijaya Tbk (ALFA).
Midi Utama Operational Director Agus Setiawan said the company has managed 100 outlets in Jabodetabek, Surabaya, and Bali.

Disclosure: No position at the stock mentioned above. 

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