JAKARTA (Yosefardi) – Property developer PT Mega Manunggal Property Tbk has this morning kicked off its initial public offering (IPO) for 1.71 billion shares, representing 30% of its total issued and paid-up shares capital.
PT Indo Premier Securities acts as underwriter for the IPO. The book building starts today and will last in May 22, 2015. The offering is scheduled for June 4,5, and 8, 2015. Listing at stock exchange is set for June 12, 2015.
PT Mega Mandiri Property controls 99% shares of Mega Manunggal and Hungkang Sutedja owns 1%.
Mega Manunggal booked net profit of Rp286.72 billion in 2014, jumped by twofold from Rp90.5 billion in 2013. The company
booked net profit of Rp313.93 billion in 2012 and Rp125.45 billion in 2011. In 2010, the company suffered loss of Rp328
million. While revenue rose 19.3% to Rp142 billion last year, from Rp119 billion in 2013.
It booked other income of Rp195 billion last year, Rp68 billion in 2013, Rp323 billion in 2012 and Rp296 billion in 2011.
The other income came from the affirmation of fair value upside on property investment worth Rp261 billion related to the
completion of Business Part 2 Intrub development and Selayar projects. Mega Manunggal’s assets reached Rp2,14 trillion
while liability amounted Rp691 billion.
Mega Manunggal focuses on property logistic business mainly warehouses with international specification for the
transportation sector. The company offers solutions for property logistics with 2 concepts; built-to-suit for single
tenant and standard warehouse building for multi tenant).
As at December 2014, Mega Manunggal’s property logistic portfolios are based in 4 areas in Jakarta with main tenants such
as PT Unilever Indonesia Tbk (UNVR), PT LF Service Indonesia, PT DHL Supply Chain Indonesia, PT Grunfos Pompa, PT ARK
Logistics & Transport, PT Yokogawa Indonesia, PT Acommerce Solusi Lestari, and PT Bank Negara Indonesia Tbk (BBNI).