Avian Paint Manufacturer Officially Listed On The Stock Exchange, These Are The Comments Of The Family Of Conglomerate Hermanto Tanoko, Who Are Directors And Commissioners

Conglomerate Hermanto Tanoko. (Photo: Doc. BEI)

JAKARTA - PT Avia Avian Tbk officially listed its shares on the Indonesia Stock Exchange (IDX) today, Wednesday, December 8th. This company owned by conglomerate Hermanto Tanoko uses the issuer code of AVIA.

The paint manufacturer has set the company's initial public offering price at Rp930 per share. Avian claims that this action has strong support from domestic, foreign and retail institutional investors.

This initial public offering was attracted by various well-known investors from global long-term investors, sovereign wealth funds, and domestic institutions, and had experienced several times of oversubscription.

With a total offering of IDR 10,951 trillion (771 million US dollars), this registration is the largest ever IPO in Asia for the paint sector, the second largest IPO for the paint sector globally, and the third largest IPO in Indonesia since 2008.

Wijono Tanoko, President Director of Avia Avian, said that this initial public offering is an important milestone for Avian Brands employees, customers, suppliers and all partners. The extraordinary support received for this IPO is a realization of the vision of Mr. Soetikno Tanoko who founded the Company in 1978.

Meanwhile Ruslan Tanoko, Vice President Director of Avia Avian said, under the leadership of Mr. Wijono Tanoko and Mr. Hermanto Tanoko, Avian Brands has strengthened its position and excellence in the decorative paint industry in Indonesia.

"The management team led by Saya, Robert Tanoko, and Kurnia Hadi, supported by our partner GIC, has accelerated the transformation of Avian Brands into a nimble, customer-focused company capable of offering quality innovative products to the Indonesian people," said Ruslan.

"We have built Avian Brands to become the number 1 leader in the decorative paint sector in Indonesia2. We would like to express our sincere gratitude to the 7,210 employees who are constantly innovating so that they can serve the 52,625 building material stores that have supported us over the years. We always hope that special relationship that has been formed and this partnership can continue in the future," added Ruslan.

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Meanwhile, Robert Tanoko, Director of Avia Avian added, listing shares is the next natural step in Avian Brands' journey. With this IPO, he said, the company has higher financial and operational flexibility to be able to continuously innovate and improve ESG practices.

"We are very pleased that our new shareholder has decided to join us in our next stage of growth and we are committed to generating the best added value for all stakeholders," he said.

And Hermanto Tanoko, President Commissioner of Avia Avian concluded, the size and timing of this IPO was made possible by the hard work of the OJK, BEI, and all company partners who continue to support it.

As part of the IPO, the company and several shareholders have offered a total of 11,775,355,600 shares, consisting of approximately 52.7 percent of new shares and about 47.3 percent of the shares offered by existing shareholders.

Gross proceeds from new share offerings amounted to IDR 5.766 trillion (USD 400 million). After the IPO, the Tanoko Family will remain the majority shareholder of the company with 74.7 percent shares.