Martina Berto's IPO price set at IDR650-IDR850 per share

JAKARTA: PT Martina Berto of Martha Tilaar Group plans to dispose 355 million of its shares in initial public offering (IPO) at price range of IDR650 to IDR850 per share. Based on its public exposure today, the company will list its shares on January
News Editor | 08 Desember 2010 08:10 WIB

JAKARTA: PT Martina Berto of Martha Tilaar Group plans to dispose 355 million of its shares in initial public offering (IPO) at price range of IDR650 to IDR850 per share. Based on its public exposure today, the company will list its shares on January 13, 2011 while it is expecting to receive effective notice on December 30, 2010. The company also has appointed PT Trimegah as the underwriter in the IPO process.The book building period starts today until December 20, 2010. The number of shares released were equivalent to 30% of the total existing shares. The company expects to raise IDR230.75 billion to IDR301.75 billion at the determined price range.Perseroan juga telah menunjuk PT Trimegah Securities Tbk sebagaipenjamin pelaksana emisi (underwriter) dalam proses aksi korporasiitu.About 50% or IDR135 million of the proceeds will be used for constructing new factory in Cikarang while 20% or IDR54 million will be used for paying debt and 30% or IDR81 million for the companys working capital.Based on data compiled by Bisnis, Deputy Marketing Director of Martina Berto Kilala Tilaar said the company plans to open 20 Martha Tilaar retail shops across the country and abroad in 2011. The number of Martha Tilaar shops domestically this year reach 22 shops. At the malls, she added, the company needs around IDR700 million to IDR800 million per shop, thus making the total fund required for adding other 10 shops in 2011 around IDR7 billion to IDR8 billion.He said the company currently owned one retail shop in Singapore. Through the IPO, Martina Berto plans to expand its business network overseas by opening 10 retail shops in countries like Hong Kong, Vietnam, Malaysia, and Japan. To open one retail shop overseas, it approximately needs IDR1.5 billion per shop, thus requiring it to have IDR15 billion for opening new 10 shops. Products sold in the retail shops abroad comprise of two brands namely Dewi Sri Spa and organic products called Solusi.The company is targeting its first year sales to rise 15% and further increase to 20% in the second year through the addition of new shops, she added. (T06/NOM)

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