Unilever Body Care Goes Private
25 October 2013 12:22 WIB
TEMPO.CO, Jakarta - Unilever Body Care Indonesia (IDX: PROD) is finalizing its plan to go private. The sister company of Unilever Indonesia Tbk (UNVR) will be offering its shares for Rp327,000 per unit, nearly 165 times its price when the company was delisted from the IDX in 2009.
"We are targeting to repurchase all floating shares," UNVR's director and corporate secretary Sancoyo Antarikso said in Jakarta Thursday.
According to Soncoyo, PROD currently has 1.5 million outstanding stocks, accounting for 1.7 percent of the company's total number of shares. This means that the company must provide some Rp558 billion to repurchase those public shares in order for it to go private.
Both PROD and UNVR are the subsidiaries of Unilever Indonesia Holding BV. Director of Unilever Indonesia Maurits Daniel Rudolf Lalisang said that, in the first half of 2013, the company posted a 15.5 percent revenue increase to Rp 15.4 trillion, year-on-year (YOY).
RIRIN AGUSTIA