JAKARTA (Yosefardi) – PT Kresna Graha Investama Tbk (KREN) plans to launch the initial public offering (IPO) of its 2 affiliated firms, PT Kresna Life Insurance & Pension Fund and PT Kresna Usaha Kreatif.
The IPO of about 20-30% shares, will take place within late 2015 to mid 2017. Kresna diversifies its business to financial services. Now it focuses on investment.
KREN is also establishing new entity, PT Kresna Usaha Kreatif, which will focus on e-commerce business. It also mulls to launch the rights issue in the second half of this year, targeting to raise Rp3-4 trillion.
KREN booked net profit of Rp59.43 billion in the first half of this year, declined 2.74% from Rp61.1 billion in the same period of last year. Revenue rose 2.2% to Rp126.5 billion from previous Rp123.77 billion.