Friday, May 3, 2013

IPO subsidiary Saratoga viewfinder Rp2 trillion

Jakarta (The Car Insurance Info)-PT Mitra Pinasthika Mustikan (MPM) Group businesses, Saratoga, the Prime stock will take off to the public (IPO) as much as 22.2 percent in Indonesia stock exchange with an estimated acquisition funds ranges from Rp2 trillion, trillion-Rp1,5.

"The IPO share price range was pegged at MPM Rp 1,500 to Rp 2,000 per sheet, so that the results of the IPO funds projected range Rp1,5 Rp2 trillion-trillion," said President Director of Saratoga, he, in a talk show with a number of editors of mass media, here on Wednesday.

According to Sandi, greeting familiar Sandiaga Uno, the share offer MPM is ongoing, and will be listing (recorded) in the BEI on May 29, 2013.

He explains, as for the IPO results fully funds will be used for business development of the company.

MPM, established in 1987, initially moving in a distributor of Honda motorcycles in East Java and NTT.

But later broadened the scope of effort outside the distribution business, which manufactures various components of the vehicle, vehicle dealers, financing, and stickers.

"Under the management of Saratoga, businesses thrive and MPM has even become market leaders in their respective sectors," said password.

Sales of motorcycles, production of lubricant is a very attractive business, MPM for contributing a fairly large against the company.

To this end, adds ciphers, IPO proceeds Fund will be used for working capital in developing the business, including the acquisition of vehicle rental companies.

According to records, about 25 percent is allocated for the acquisition of vehicle rental companies, and about 23 percent for the construction of facilities for fabrication and bottling of new lubricants.

While about 19 percent to finance the acquisition of the remaining shares of PT Federal Karyatama, as well as about 13 percent of the Fund in part purchase approximately 3,000 units of the new car.

But by 8 percent IPOS and other funds will be used for PT Asuransi Mitra Protector Jewels as insurance operations and expansion of 9 percent to pay off debt to PT Bank DBS Indonesia and PT ANZ Bank Indonesia and the rest for working capital.

Password to add, very prospective vehicle rental business so it is feasible to develop.

According to Sandiaga, business growth in the last three years MPM reached 25 percent-30 percent.

"Last year the MPM is able to finance a new vehicle around 3,000, then by 2013 is expected to be increased to about 13,000 vehicles," he said.

Related listings will be done at the end of may 2013, he said the IPO in the period was a good momentum, but as the market moves favorably also encouraged economic conditions continued to experience growth.

In 2012, the MPM records the revenues of about Rp10,77 trillion, up to 2011 of Rp8,45 trillion.

The bersaman, a comprehensive income that is distributed to the owners of the parent entity also recorded rose to Rp373,53 billion from Rp219,92 billion.

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Title Post: IPO subsidiary Saratoga viewfinder Rp2 trillion
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Author: Mohammad Zulfi Satriawan

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