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JAKARTA, INDONESIA, Feb 21, 2013 - (ACN Newswire) - PT Dyandra Media International Tbk (DMI), one of the top conglomerates in Meeting, Incentive, Convention & Exhibition (MICE) industry in Indonesia, plans to organize an Initial Public Offering (IPO) of its shares to the public.
 | | PT Dyandra Media International Tbk, The First MICE Company in Indonesia That Go Public |
The Initial Public Offering is in support of DMI planned business expansion to increase its capacity in responding to the current development of Meeting, Incentive, Convention and Exhibition (MICE) industry that looked promising lately in Indonesia and DMI business diversification in the field of convention centre and hotelier. DMI is the first MICE industry group in Southeast Asia that offers its shares to the public through Initial Public Offering.
"In line with the economic development in Indonesia and in the region, I am certain that with a new status as a company that Goes Public, PT Dyandra Media International Tbk will have the capacity to face future challenges, establish higher standards and continue to maintain itself as a top company in the MICE industry," said Lilik Oetama, President Director of PT Dyandra Media International Tbk in a press conference held in Jakarta, Tuesday 19 February..
DMI Issues a Maximum of 1,282,000,000 New Shares
DMI management and its Brokerage Firm has agreed to issue a maximum of 1,282,000,000 new shares to the public or 30% from the capital will be paid after the IPO to public, with price range between IDR 315 and IDR 415 per share. Mandiri Securities and OSK Nusadana Securities are the brokerage firms offered by DMI.
Through this Initial Public Offering and stock offering, DMI and its shareholders target a revenue of around IDR 500 billion. Around 67% of the revenue from the Initial Public Offering will be used for business development through capital injection to its subsidiaries, around 24% to pay principal debts to banks in relation to DMI ongoing projects and around 9% will be used as working capital.
"We are optimistic that DMI Initial Public Offering will be responded positively by investors, both domestic and foreign, due to the unique business model of DMI and its position that benefits from the growing MICE industry in Indonesia," said Lilik Oetama.
Due Diligence Meeting and Public Expose are performed by DMI together with the two brokerage firms as part of book building towards IPO process in order to initially explore the interests from potential investors, both retail and institutions, and potential brokerage forms. The process of book building will take place between 19 February and 5 March 2013.
PT Dyandra Media International Business Expansion in Conventional Hall and Hotelier
PT Dyandra Media International Tbk. (DMI) is currently focused on developing two main businesses, i.e. convention hall and hotelier. "DMI will build three convention halls and a number of hotels that are estimated to absorb a total budget of IDR 300 billion," said Lilik Oetama. He added that part of the financing would be from IPO revenue.
Danny Budiharto, DMI Director of Operations, complemented Lilik statement by saying that the three convention halls will be the second stage of the construction of 25,000 square meter Bali Nusa Dua Convention Centre, construction of Indonesia International Convention and Exhibition Centre in Bumi Serpong Damai (BSD), South Tangerang and the construction of Makassar International Convention Centre in Tanjung Bunga area in Makassar, South Sulawesi.
Danny said that by 2014 DMI targeted to have 2400 hotel rooms through construction of 20 new hotels. At present, DMI owns one Santika Hotel, Five Amaris Hotels with a total of 657 rooms located in various major cities in Indonesia.
"In line with the expansion of convention business, DMI also expands in hotelier," added Danny optimistically. He went on to say that the number of incoming tourists and tourism businesses continue to grow, therefore expansion of hotel business was integrated to the development of convention centres.
The IPO will accelerate the diversification of financial resources for DMI to enable the company to improve the quality of business growth; it will even become one of the appeals to potential investors. The situation is in line with DMI vision to become one of the major providers of MICE services and solutions in Southeast Asia and to become a reliable partner that provide high quality services and innovative solutions. Lilik Oetama went on further by saying that the company would always give the necessary efforts to provide optimal added values to all shareholders.
Contact:
Budi Yanto Lusli
Corporate Secretary
E: budilusli@dyandramedia.com
Khusnina Sekar
Fortune PR
E: nina@fortunepr.com
Topic: IPO
Source: PT Dyandra Media International (DMI)
Sectors: Trade Shows, Retail & eCommerce, Daily Finance
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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