Indonesian construction firm Totalindo taps IPO route to raise $120m

Indonesia-based construction firm Totalindo Eka Persada is slated to raise Rp 1.5 trillion ($120 million) from a planned initial public offering (IPO) soon, in what could be the country’s largest issue this year.

The company has started to hold a pre-deal investor education, which will go on until May 3, with books that are scheduled to open on May 8, according to a report by Global Capital. The IPO is expected to price on May 22.

CLSA, along with local brokerages Bahana Securities and Indo Premier Securities are bookrunners and underwriters.

In 2016, Totalindo booked a revenue of Rp 3.16 trillion, representing an almost 200 percent increase from 2014’s revenue of Rp 1.05 trillion. Net profit jumped more than 100 per cent to Rp201 billion last year.

Totalindo provides construction services for various types of projects, ranging from residential, hotel, commercial, to public services and governmental sectors. Founded in 1996, the company completed Taman Anggrek Mall as its commencement, known as the largest super block in Southeast Asia at the time.

In the years that follow, it completed five-star Hotel Mulia Senayan, participated in Cipularang Toll Road, Plaza Indonesia Extension Project, and Kalibata City. It also handled Abu Dhabi’s City of Lights Al-Reem project. In 2016,the firm completed government projects related to public housing such as Korlantas Polri Houses, Tambora Rusunawa, and KS Tubun Rusun.

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Singapore Reporter/s

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

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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.