JAKARTA (Yosefardi) – Textile and garment giant PT Sri Rejeki Isman (SRIL) Tbk, popular as Sritex, will kick off trading of its stocks on Indonesia Stock Exchange (IDX) Monday (June 17).
Sritex will start the trading with market capitalization of Rp4.46 trillion or about US$450 million.
The company offered 5.6 billion shares at Rp240 per share to raise Rp1.34 trillion in the initial public offering (IPO) arranged by PT Bahana Securities as underwriter.
Sritex booked net profit of Rp229.3 billion from sales revenue of Rp2.85 trillion last year. Textile finishing was the largest contributor of revenues with Rp1.3 trillion, followed by garment, spinning, and weaving segments.