Jan 19, 2011

12 Companies to hold IPO in 1Q 2011

About 9 to 12 companies have submitted documents of initial public offering (IPO) to the Indonesia Stock Exchange in first quarter of 2011.
Director of Corporate Valuation of Indonesia Stock Exchange Eddy Sugito said the newcomers are mostly dominated by private company.
"There are one or two companies have sounded IPO. They engage in multi-finance and shipping business. But the plan is not officially disclosed. In the first quarter 201, there are about 9 - 12 companies which has been registered, including the carrie over from 2010," he said today.
The financing and shipping companies will realize IPO in the second quarter of 2011 since they use audited financial statements in 2010.
He was unwilling to target the proceeds that will be generated from the IPO. Eddy only sets the target of several companies which is not too big. "The amount is small. Firstly, we will see how the demand in the market," he said.
Several companies which will hold an IPO in the first quarter of 2011 are PT Garuda Indonesia, Mayapada Hospital Group, PT Sidomulyo Selaras, and PT Mitra Bahtera Segara Sejati.
As it is known, Garuda plans to release about 30% of the shares or about 9.3 billion shares to the public and listed its shares on February 11, 2011.
Meanwhile, Mayapada Hospital Group plans to release 13.5% of its shares and the IPO will be executed in the end of the fourth quarter of 2011.
The number of companies that have been released its shares to the public earlier this year are PT megapolitan Developments Tbk on January 12, 2010 and PT Martina Bertho Tbk on January 13, 2010.

Disclosure: No position at the stock mentioned above.
 
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