Entering Bookbuilding, BDKR's IPO Puts a Price of IDR 188-200 Per Share

Illustration of share (Photo: Doc. Antara)

JAKARTA - PT Berdikari Pondasi Perkasa Tbk or BDKR will conduct an initial public offering (IPO). Currently, BDKR is conducting an initial offering or book-building period with a nominal value of IDR 100 per share and is being offered at a price range of IDR 188 to IDR 200 per share.

BDKR released as many as 706.1 million shares or as much as 15 percent of the total issued and fully paid capital after the IPO, with an initial offering period from 6 to 10 February 2023.

Quoting Antara, Tuesday, 7 February, the plan is for BDKR to be listed on the Indonesia Stock Exchange (IDX) on 1 March 2023.

After the IPO, BDKR targets revenue to increase conservatively by 15 percent in 2023, 10 percent in 2024, 8 percent in 2025, and 5 percent in 2026.

Meanwhile, the company's net profit is targeting double digits for the next three years.

Meanwhile, the eight largest contracts that the company has obtained earlier this year have contributed a total of IDR 152.9 billion as of 1 February 2023, from the projected 2023 revenue target of IDR 546.7 billion or around 28 percent.

All proceeds from the IPO, after deducting issuance costs, will be used by the company for working capital.

The company simultaneously also issues a maximum of 353.05 million Series I Warrants which accompany the company's new shares.

Thus, each holder of two new shares of the company has the right to obtain one Series I Warrant, in which each one Series 1 Warrant gives the holder the right to purchase one new share of the company issued in the portfolio.

Based on the financial report as of 30 July 2022, BDKR recorded an operating income of IDR 274.59 billion, an increase of 23.81 percent compared to the same period last year which amounted to IDR 221.77 billion.

Meanwhile, total assets increased by 30.14 percent from IDR 833.13 billion in 2021 to IDR 1.08 trillion as of 30 July 2022.

BDKR was founded in 1984 and specializes in foundations, earthworks, jetty construction, heavy lifting, and crane rental.