Jakarta. Yupi Indo Jelly Gum, a leading confectionery manufacturer, is set to raise Rp 1.42 trillion ($85.88 million) through an initial public offering (IPO) as it looks to expand operations and attract global investors.

The company will offer 854.4 million shares, representing 10 percent of its total equity. This includes 256.3 million (3 percent) new shares and 598.1 million (7 percent) divested shares from Sweets Indonesia, priced at Rp 2,390 per share. CIMB Niaga Sekuritas and Mandiri Sekuritas will serve as joint lead underwriters, with OCBC Sekuritas as a co-underwriter.

The public offering will take place from March 19–21, with Yupi's shares set to debut on the Indonesia Stock Exchange (IDX) under the ticker YUPI on March 25, 2025.

Proceeds from the sale of new shares—after deducting issuance costs—will be allocated primarily toward capital expenditures. YUPI plans to invest approximately 72 percent of the funds in constructing a new manufacturing facility in Nganjuk, East Java, estimated at Rp 437.5 billion. The plant is expected to commence operations by 2026. Should the total project costs exceed the IPO proceeds, YUPI will cover the shortfall using internal cash reserves.

YUPI’s existing shareholders include Sweets Indonesia, which holds 99.9 percent of the company, and Daniel Budiman, who owns 0.9 percent. According to its IPO prospectus, the two shareholders have signed a conditional share purchase agreement with Singapore-based Confectionary Consumer Products Global Pte Ltd (CCPGL) and Confectionery Consumer Products Indonesia (CCPI).

Upon completion of the IPO and listing, CCPI will acquire 7.69 billion shares, equivalent to 90 percent of YUPI’s total paid-up capital, from its existing shareholders. The deal, based on the IPO price of Rp 2,390 per share, could be valued at approximately Rp 18.37 trillion ($1.17 billion).

Following the acquisition, CCPI is set to become YUPI’s controlling shareholder, positioning the company for greater market expansion and integration within the global confectionery industry.

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