Jakarta. Seven companies are gearing up for initial public offerings (IPOs) in February, spanning from a fried chicken franchise to a unit of the Bakrie Group.

1. Homeco Victoria Makmur (LIVE):
Homeco Living, a household goods company, is preparing for an IPO, offering up to 808.35 million shares (17.6 percent of equity). The IPO price is set at Rp 136-181 per share, aiming to raise Rp 146.31 billion ($9.34 million). The book-building process occurred between January 19 and 24, 2024, followed by the public offering from February 2 to 6, 2024. The stock is expected to be listed on the Indonesia Stock Exchange (IDX) under the ticker LIVE on February 12, 2024. Binaartha Sekuritas and Samuel Sekuritas Indonesia are the underwriters for the IPO, which aims to allocate funds for debt settlement and business expansion.

2. Bersama Mencapai Puncak (BAIK):
Bersama, the operator of the Ayam Goreng Nelongso franchise, is gearing up for an IPO by offering 225 million shares, equivalent to 20 percent of its equity. The IPO price is set within the range of Rp 268 to Rp 278 per share, with a total valuation reaching Rp 62.55 billion. Currently, the company is in the book-building process until Jan. 24, 2024.

3. Harta Djaya Karya (MEJA):
Harta Djaya Karya, a company specializing in home furnishings, is initiating an IPO by floating 480 million shares, equivalent to 25.03 percent of its equity, at a price range of Rp 100 to Rp 103 per share. The objective is to raise between Rp 48 billion to Rp 49.44 billion. The initial offering period is set from January 18 to 24, 2024, followed by the public offering phase from Jan. 31 to Feb. 5, 2024. The anticipated stock listing date is Feb. 7, 2024 under the ticker MEJA. MNC Sekuritas has been appointed as the underwriter for the IPO. The funds generated from the IPO will used for the procurement of office equipment, vehicle acquisitions, building rentals, information system development, and working capital.

4. Ecocare Indo Pasifik (HYGN):
A sanitation and hygiene services company, Ecocare, plans to release 525 million shares (20.8% of equity) with an IPO price of Rp 135-Rp 145, targeting Rp 70 billion-Rp 76 billion. The proceeds will be used for business expansion, digital adoption, and premium hygiene product development. KGI Sekuritas Indonesia is the appointed underwriter. Public offering starts on Jan. 16 to Jan. 23. 2024 with the stock listing on Feb. 5-7, 2024.

5. Multikarya Asia Pasifik Raya (MKAP):
Multikarya, a manufacturing and industrial pump spare parts company, is offering 650 million shares (20 percent of equity) at Rp 105-Rp 120 per share, totaling Rp 68.25-Rp 78 billion. The initial offering period starts from Jan. 18 to Jan. 25, 2024, followed by a public offering on Feb. 1-6, 2024. The stocks will be listed at IDX under the ticker MKAP on Feb. 12, 2024. Lotus Andalan Sekuritas acts as the underwriter. All IPO funds will be directed towards working capital.

6. Mitra Pedagang Indonesia (MPIX):
Mitra Pedagang, a digital payment and transaction solutions provider, plans to release 312.5 million shares (20 percent of its equity) at Rp 256-Rp 268 per share, targeting Rp 80-83.75 billion. The initial offering period starts on Jan. 17-24, 2024, followed by a public offering from Jan. 31-Feb. 2, 2024. The stock will be listed on IDX using the code MPIX on Feb. 6, 2024. RHB Sekuritas Indonesia is the underwriter.

7. Ancara Logistics Indonesia (ALII):
Ancara Logistics Indonesia, affiliated with the Bakrie Group, plans to issue 3.16 billion shares, constituting 20 percent of its equity, at a price range of Rp 268 to Rp 278 per share, resulting in a total value of Rp 879.91 billion. The initial offering period is scheduled for Jan. 17 to 24, 2024, followed by a public offering from Feb. 1 to 5, 2024. The estimated stock listing date is Feb. 7, 2024. The underwriting responsibilities for this IPO are entrusted to Ciptadana Sekuritas Asia and Samuel Sekuritas Indonesia.

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