JAKARTA (Yosefardi) – Financing firm for heavy equipment industry PT Intan Baruprana Finance Tbk, subsidiary of PT Intraco Penta Tbk (INTA), has secured loan of US$10 million from Islamic Corporation for the Development of the Private Sector (ICD).
The loan, under murabahah scheme, has tenor of 4 years, used to support the company’s financing. It targets to book financing of Rp1.3-1.5 trillion next year. For this year, Intan Finance targets financing of Rp1.1 trillion.
Intan Finance had in November 5, 2014 kicked off its initial public offering (IPO) of 1.67 billion shares, representing 40% of its total issued and paid-up shares capital.
The offering is scheduled for November 26-28, 2014 while listing at stock exchange is set for December 4, 2014.
INTA controls 79.72% of Intan Baruprana, PT Inta Trading holds 10.57%, and Philip Asia Pacific Opportunity Fund Ltd owns 9.7%.
Intan Baruprana booked net profit of Rp33 billion in first half of this year on revenues of Rp199 billion. Its assets totaled Rp2.57 trillion while liability amounted Rp2.14 trillion.