JAKARTA (Yosefardi) – State pharmaceutical company PT Indofarma Tbk (INAF) intends to divest 20% stake in its unit PT Indofarma Global Medika next year.
Investors from South Korean and Malaysia have reportedly expressed their interest to buy Indofarma Global Medika.
INAF has assigned PT Mandiri Sekuritas to facilitate the transaction. The proceeds of divestment will be used to refinance INAF’s debt.
The company also plans to issue medium term notes (MTN) worth Rp160 billion in December 10, 2014, to help funding its capital expenditure (capex) for 2015 amounting Rp135 billion.
INAF targets to book net profit of Rp1 billion this year on revenues of Rp1.4 trillion. For 2015, the company targets to book net profit of Rp40 billion and revenues of Rp1.7 trillion.