REPUBLIKA.CO.ID, JAKARTA - One of the largest national manufacturer of herbal medicine PT Sido Muncul will launch their initial public offering (IPO) this year. The company targets to reach up to 1.5 trillion IDR from its IPO.

"Fund from IPO will be used for business development and expansion plant. Sido Muncul plans to expand its factory in Semarang, Central Java, to double its capacity," President Director of Sido Muncul, Irwan Hidayat said on Tuesday.

The company has organized an exposure to the directors of Indonesia Stock Exchange (IDX). Sido muncul will use financial report in March 2013. The company has appointed Krishna Graha Securindo as underwriter. Effective statement from Financial Services Authority (OJK) is expected to obtain in September.

President Director of Kresna Graha Sekurindo, Michael Steven said Sido Muncul was expected to list its shares in the third or fourth quarter 2013. Currently, global market is still fluctuating but he believes that domestic stock market will remain positive as long as Indonesia's economic growth is still above six percent.

Sido Muncul aims at consumer sector since Steven believes that the increasing middle class opens opportunity as potential sector. In the future, the company would offer a roadshw to several areas, including Yogyakarta, Semarang, and Surabaya. 

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