SURABAYA (Yosefardi) – Saraswanti Group, through its unit, fertilizer company PT Saraswanti Anugerah Makmur, plans to enter capital market for raising fresh funds.
YN Hari Hardono, founder and president director of Saraswanti Utama, said the group might launche the initial public offering (IPO) or issuing bonds.
PT Saraswanti Anugerah Makmur is slated to become holding company for fertilizers. The group also engages in laboratorium for foods, plantation, and property.
The group booked sales of Rp2.3 trillion so far this year, with fertilizer business contributing sales of Rp1.4 trillion. The group targets to produce 440,000 tons of fertilizer in 2015.