WIKA Will Offer 1.846.154.000 Sheets of Share to Public
PT Wijaya Karya (Persero) Tbk. (WIKA) will conduct an Initial Public Offering (IPO) on October, 2007. As it is planned, the number of shares to be offered is 1.846.154.000 sheets of new shares or 31.7% from the number of the shares after IPO. The conductor in charge of the emission is PT Bahana Securities, PT CIMB- GK Securities Indonesia, and PT Indo Premier Securities.
“The shares released are the new shares with the nominal value of IDR 100 per sheets,” said the Director of WIKA A. Sutjipto every reporters in the event of Public Explanation of the IPO plan, in Ritz Carlton Hotel, Jakarta (25/9).
Sutjipto stated that the plan to use the fund obtained from the IPO, 20% is for strengthening the domestic project capital structure, 40% is for developing the foreign construction effort and EPC, and 40% is for investing and developing the infrastructure projects.
The estimated emission schedule is as follows : the statement effective due date is October 10, 2007, the offering period is October 18, 19 and 22, 2007, and the distribution date is October 23, 2007. The shares are planned to be listed in Bursa Efek Jakarta (BEJ) on October 24, 2007.
After the public offering, the public ownership becomes 31.7 % and the composition of the government share holders becomes 68.3%.
The Director of the Investment Banking Bahana Securities, Andy Sidharta stated that he believes WIKA’s shares will attract the investors considering tis good fundamental companies and business prospects corporated with the great trust from the company clients all this time is one of the main roles in the construction industries in Indonesia.
Regarding the company’s quality, till the end of period June 30, The company noted the consolidated nett sale for 6 month-period which ends on June 30, 2007 is IDR 1.499 trillion. The nett sale mostly contributed by the construction services is IDR 988.271 billion (65.90%), the sales of the concrete product are IDR 385.016 billion (25.67%), and the rest is derived from the manufacture, trade, and realty.
The consolidated operation left over for the 6 month-period which ends on June 30, 2007 is IDR 83.331 billion (5.56%) ofthe consolidated nett sales. The increase of the operation left over pushes the consolidated nett left over for 6-month period which ends on June 30, 2007 to IDR 39,191 billion or 2.61% of the consolidated nett sales.
On June 30, 2007, the total of the company’s consolidated asset is IDR 2.773 trillion or IDR 118.50 billion (4.46%) increasing compared to that of December 31, 2006 which is IDR 2.655 billion. The total of the company consolidated obligation in this 6-month period which ends on June 30, 2007 is IDR 2.279 trillion or IDR 81.647 billion (3.71%) increasing compared to that of December 31, 2006 which is IDR 2.197 billion.
The company’s equity for 6-month period which ends on June, 30 2007 is IDR 439.309 billion, IDR 37.051 billion (9.21%) increasing compared to that of December 31, 2006 which is IDR 402.258 billion.
For the continuous business, Sutjipto is very optimistic about the improvement of the company’s quality. This is supported with the fast-development of the building various construction projects in and out of country so that it opens the opportunities for the company to execute said projects.
Meanwhile, the opportunity of the company projects, by the constructing the main roads (either highways or bridges), railways, power plants, telecommunication facilities, harbours and airports, industrial buildings dan public buildings.
In addition, by the findings of oil, natutral gas resources and mining results, particularly the newest, coal, will be in need of the addition of the infrastructures, related factories and its installations, such as: the building of roads in mining sites, conveyors and coal ports, the building of the cement factories, oil refining factories, means of oil and gas exploitation, the fuel primary transit terminal, gas piping from Kalimantan to Java, gas piping of Cirebon – Semarang – Gresik, gas piping from Duri to Medan, fuel piping from Balongan to Jakarta, fuel piping from Cilacap to Bandung, etc.