JAKARTA: Recently listed company, PT Minna Padi Investama Tbk, is eyeing 30%-40% net profit growth than last year following its expansion plan.
Net profit in 2011 may reach IDR15 billion, stated Minna Padi President Director Djoko Joelijanto. Thus, net profit in this year is targeted to achieve at IDR19.5 billion-IDR21 billion.
To achieve the target, the company is planning to open one new branch office and develop its online trading service.
Company served 600 active customers last year. Number of customers is expected to increase by 30% this year.
For 2012, the company will focus on investment banking, particularly initial public offering and rights issue.
“Investment banking is our priority as trading is considered stagnant.”
The company is currently studying two IPOs worth less than IDR500 billion each that is
expected to be implemented in the second half.
In addition, the company is handling one rights issue that is scheduled to hold in the first half, explained Djoko. He refused to detail the name.
Minna Padi recently disposed 300 million or 23.07% shares from its total equity at IDR395 per stock through IPO. From the corporate act, the company pocketed IDR118.5 billion.
Along with share listed, 150 million Series I warrants provided to new shareholders for free at IDR450 per warrant.
Based on company’s data, 83.88% of the proceeds will be used to strengthen its working capital structure, 12.5% for expansion and opening new branch, 1.12% to settle debt to PT Bank Artha Graha international Tbk and 2.5% for information technology and online trading system development.
All of the warrant proceeds will be used to support working capital by increasing trading limit.
During the corporate act, Minna Padi mandated PT Ciptadana Securities, PT Dinamika Usahajaya and PT Panca Global Securities Tbk as the underwriters.
The entire of the PADI-coded company’ shares was absorbed by local investors, majorly by retailer, stated Ciptadana Securities’ President Director Ferry Budiman Tanja.
PADi experienced 2.4 times oversubscribed in book building. (T05/msw)
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