TEMPO.CO, Jakarta - PT Sarimelati Kencana, the company that manages the Pizza Hut franchise in Indonesia, plans to go public. Sarimelati will hold an initial public offering (IPO) at the Indonesia Stock Exchange (IDX) end of May.
IDX director for corporate assessment Samsul Hidayat said Sarimelati Kencana plans to float 20 percent of its shares to the public. The company will base the corporate act on its 2017 ledger.
"The listing is scheduled in May," he said after attending Sarimelati Kencana's mini-expose Monday, April 2.
According to its 2017 financial statements, Sarimelati Kencana's assets amounted to some Rp1.4 trillion with a debt of Rp1.1 trillion and Rp370 billion worth of equities.
Samsul said that in the IPO, the company will allocate 1 percent of their public shares for employee stock option program (ESOP) and 10 percent for management and employee stock option program (MESOP).
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The underwriters for Sarimelati Kencana's IPO are CLSA Sekuritas Indonesia, CIMB Sekuritas Indonesia and Mandiri Sekuritas.
Sarimelati Kencana president director Stephen J. McCarthy declined to provide further information about his company's listing plan. "I cannot give you any information yet," he told reporters.
BISNIS.COM