JAKARTA (Yosefardi) – PT Industri Jamu Dan Farmasi Sido Muncul Tbk (SIDO), producing herbal medicine and engaged in pharmacy industry, allocates Rp1 trillion for expanding its property business next year, Investor Daily reported this morning.
The company will invest in hotels and real esatate in Central Java and Yogyakarta. Currently SIDO has hava a 5-star hotel, Tentrem Hotel, in Yogyakarta.
SIDO was traded flat at Rp700 per share this morning, after gaining 21% on its trading debut Wednesday (Dec 18).
SIDO listed 15 billion shares on IDX and had offered 1.5 billion shares through the initial public offering (IPO), representing 10% of its totaled issued and paid-up shares capital, priced at Rp580 per share, raised total proceeds of Rp870 billion.