JAKARTA Feb 26 Indonesia's third biggest flour
mill PT Sriboga Raturaya plans to raise up to 700 billion rupiah
($72 million) in an initial public offering this year, the
company said on Tuesday.
"We are preparing an IPO this year, for 25 percent of our
enlarged capital to raise 600-700 billion rupiah," Sriboga
finance director Frederick Cadlaon said.
Sriboga, which also owns the Indonesian licence for the
Pizza Hut fast-food chain, has not appointed underwriters for
"Our current production capacity is at 1,900 tons per day
and will be increased to 2,500 within two years, after we build
a factory with Mitsubishi Corporation," Sriboga chief
executive Alwin Arifin told a news conference.
Sriboga runs 207 Pizza Hut restaurants and has 70 delivery
outlets, he said.
Six companies have listed on the Indonesia stock exchange so
far this year, but the amounts raised have been small with a
reduced appetite for IPOs due to concern about the health of the