Indonesia Dealbook: Pizza Hut operator to conduct IPO; Plug and Play forays into new verticals

An electronic board at the Indonesia Stock Exchange (IDX) in Jakarta. REUTERS/Beawiharta

The operator of Pizza Hut Indonesia, PT Sarimelati Kencana, has announced to offer up to 604.375 million new shares priced between Rp 1,100-Rp 1,350 apiece, while accelerator GK Plug and Play Indonesia has announced the addition of new verticals for later stage startups.

Operator of Pizza Hut Indonesia eyes $58.7m from IPO

PT Sarimelati Kencana, the operator of Pizza Hut Indonesia, is looking to raise up to $58.7 million through an initial public offering (IPO) on the Indonesian Stock Exchange (IDX).

The company said, it will offer up to 604.375 million new shares priced at Rp 1,100-Rp 1,350 apiece. The book-building period will be between April 23 and May 3, 2018, while the listing is slated for May 23.

Sarimelati Kencana Director Jeo Sasanto told media that 65% of the proceeds from the IPO will be used for company capital expenditure, particularly for the opening and renovation of Pizza Hut Restaurant and Pizza Hut Delivery outlets.

As of 2017, Sarimelati Kencana has operated 237 Pizza Hut Restaurant outlets and 156 Pizza Hut Delivery outlets in 76 city/regencies in 28 provinces in Indonesia.

Plug and Play Indonesia announces new verticals

Startup accelerator GK Plug and Play Indonesia announced the addition of new verticals and opportunities for later stage startups to join its Batch 3 Accelerator Program.

In an official release, the accelerator, said it will open its programme to startups within fintech, internet of things (IoT), mobility, food & agriculture (AgTech), and sustainability. It previously focused on helping seed-stage startups within the mobile and fintech verticals,

Aside from the addition of new focus verticals, GK-PnP Indonesia also announced its commitment to later stage startups through its accelerator program, by providing mentorship and connection to corporates and government.

Since its launch in late 2016, GK-PnP Indonesia, which is the official offshoot of the Plug and Play accelerator from the US, has helped 20 startups through its three-month program that runs twice every year. The second batch is currently running and is scheduled to close on April 27.

Also Read:

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.