PT INTAN BARUPRANA FINANCE TBK (IBF) OFFICIALLY LISTED ON THE EXCHANGE (With Company Code IBFN)
Jakarta, December 22, 2014 – Today, IBF, a financing company that provides financing solutions tailored to customers' investment and working capital funding needs, listed its shares on the Indonesia Stock Exchange under the code IBFN. The Company steadily proceeded towards its inaugural listing on December 22, 2014, after obtaining an effective permit from the Financial Services Authority (OJK) on December 11, 2014, and completing its offering period from December 15–16, 2014.
"We are satisfied and proud of the results during the pricing process and the offering period, in this challenging end of the year. IBF's IPO, offered at Rp 288/share, which is equivalent to 1.71 × Book Value based on the Financial Statements as of June 30, 2014, was still attractive to the market and investors. The funds obtained from the public offering amounted to approximately Rp 192 Billion, or 21.05% (twenty-one point zero five percent) of the Company's issued and fully paid-up capital after the Public Offering. The funds obtained by the Company still meet the IPO target and will be used, approximately 75% for working capital financing and approximately 25% for paying business debts to group creditors," said Jap Hartono, President Director of PT Intan Baruprana Finance, Tbk.
"The process that has been completed is an extraordinary event and very important for IBF's journey, as this moment will become a solid foundation for IBF's future growth. IBF has proven its achievement of good fundamental performance, recording a net profit of Rp 50.36 Billion as of September 30, 2014, an increase of 121% compared to the same period in 2013, which was Rp 22.72 Billion," stated Jap Hartono.
"IBF's business growth is also in line with the Company's strategy, which is to continue diversifying the portfolio into industries outside of mining, including infrastructure, transportation, oil and gas, and healthcare," he continued.
In this IPO, IBF listed 3,173,720,000 (three billion one hundred seventy-three million seven hundred twenty thousand) shares. A total of 668,000,000 (six hundred sixty-eight million) shares constituted public shares, or 21.05% (twenty-one point zero five percent) of the Company's issued and fully paid-up capital after the Public Offering.
The majority of the funds obtained by IBF from this initial public offering will be used for financing working capital, thereby boosting the growth of fund distribution to prospective industrial sectors, including transportation, maritime, infrastructure, oil and gas, and healthcare.
About Intan Baruprana Finance Tbk (IBF)
IBF was established in 1991 and acquired in 2003 by PT Intraco Penta, Tbk. (INTA), one of the leading heavy equipment companies in Indonesia. In 2012, IBF prepared to become a public company. IBF has made measurable changes, refinements, and diversification of its financing portfolio with the support of professional management. Currently, IBF focuses on being a provider of financing solutions tailored to customers' investment and working capital funding needs, through both conventional and sharia systems, in the infrastructure, construction, transportation, mining, agriculture and plantation, commercial vehicles, shipping, and oil and gas industries. IBF consistently provides a quick response in providing financing facilities while maintaining prudence principles.
IBF is capable of and succeeded in diversifying its business into other industrial sectors outside of coal and mining. IBF even diversified financing into other products and brands. This proves that IBF is a company that can focus on various types of business segments and industries.
For further information, please contact:
Corporate Secretary PT Intan Baruprana Finance, Tbk.
Attn. Jonggi Siallagan
E-mail: corsec@ibf.co.id