REPUBLIKA.CO.ID, JAKARTA - Indonesian construction company, PT Wijaya Karya Beton (WIKA Beton), prepares to go public and enlist its shares at Indonesia's Stock Exchange (IDX), later this month.
"We will register to Financial Services Authority (OJK) this month," Wika Beton Finance Director, Aji Firmantoro said recently.
Wika Beton plans to register on January 13, 2014 at OJK, without elaborating further. Company expects to list its shares at IDX on March 2014. Fund gained from IPO will be used for business development and also construction of a new plant in Lampung.
Wika Beton production capacity is two million tonnes per year obtained from eight factories. The company expects to rise its production to 2.2 million tonnes this year.
Wika Beton contributed high revenue to its parent company, PT Wijaya Karya, reached 40 percent. Wika Beton targetted profit of 280 billion IDR in 2014, rose from 240 billion USD in the last year.
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