Tuesday, 31 August 2010

Indofood Consumer Branded Products

30/08/2010
Indofood Consumer Branded Products to launch IPO on 28-30 September, appoints underwriters 
Story
Indofood Consumer Branded Products (ICBP), a unit of Indonesian foods company Indofood Sukses Makmur, plans to launch an initial public offering of a 20% stake on 28–30 September 2010. A report in the online edition of Kontan cited the company’s IPO prospectus. ICBP will use 70%-80% of the IPO proceeds for settling its debt and the remaining funds will be used to boost its working capital, the item noted. In the first quarter 2010, ICBP got IDR 4.11tn in loans from its shareholders, the report added.

The company appointed Kim Eng Securities, Credit Suisse Securities Indonesia, Deutsche Securities Indonesia and Mandiri Sekuritas underwriters for the offering, according to the report.

ICBP plans to raise IDR 4tn–IDR 5tn (USD 555m) from the IPO.
Source
Kontan
Value
USD 555m (targeted IPO proceeds)
Stake Value
20%
 

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