JAKARTA - PT Brigit Biofarmaka Teknologi Tbk (OBAT) Officially listed its shares on the Indonesia Stock Exchange (IDX) by conducting an Initial Public Offering for Public Offering (IPO).

OBAT offers as many as 170,000,000 shares with a nominal value of IDR 50 per share, equivalent to 28.33 percent of the issued and fully paid capital. The final price set by the Company is IDR 350 per share.

President Director of OBAT Heriyanto said that with the Company's floor on the Indonesia Stock Exchange, he hoped to gain access to the capital market, in order to develop businesses such as for the purchase of raw materials, and additional production.

Meanwhile, with the results of this stock IPO, OBAT managed to obtain additional capital of IDR 59.5 billion.

"All funds obtained from this Public Offering result after deducting securities emissions costs, will all be used by the Company for working capital, including for the purchase of raw materials, additional production, and marketing development," he explained Monday, January 13.

Heriyanto said that the Company's business activities began commercially in 2018, namely the maclon of herbal products along with the establishment and operation of the herbal factory that year.

Then in 2019, with the establishment of a cosmetic factory, the Company added business activities in the form of maklon for cosmetic products and in 2022, with the establishment of a functional and botanical beverage factory, the Company again added its business activities, namely maklon for functional and botanical beverage products.

"The company also has 4 Child Companies established to support each other and provide added value for the Company and each Child Company," he said.

To note, the total revenue of the cosmetics industry in 2024, which is estimated by Statista, could reach US$1.31 billion or Rp31.77 trillion compared to 2021 which is still US$1.94 billion or Rp21.45 trillion.

In the period 2021 to 2024, it is estimated that it will record an increase of 48 percent and Statista estimates that the Cosmetics Industry can grow an average of 5.5 percent per year from 2024 to 2028.

In addition, an expansive market can also be seen from the number of Cosmetic IKMs that have recorded 1,500 units in Indonesia. The increasing role of E-Commerce contributed to the expansionary Cosmetic Products.

On the other hand, the Promp Manufacturing Index data on Chemical, Pharmaceutical, and Traditional Medicine Industries in the second quarter of 2024 is at the level of 52.71. This figure shows that the Herbal products calculated within the Industry are in the expansion phase.

Based on information from Indonesia.go.id, the market share of the world's natural ingredients or Herbal products in 2023 will reach 200.95 billion US dollars and is expected to continue to increase.

Therefore, Heriyanto said that the development of Herbal products in Indonesia needs to be continuously improved in order to be able to compete in the global market.

As for research from Mordor Intellligency, a market research company in India, the plant-based food product market in Indonesia shows significant growth potential. In 2024, the market value is estimated to reach around 377.90 million US dollars. Five years later, in 2029, this value is projected to increase to around 621 million US dollars.

Heriyanto is optimistic that the Company's performance will continue to record positive growth in the future driven by market potential that is still growing and supported by production of quality and high standards of cosmetic, herbal, and food products.


The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)