Having their own market, Chinese construction companies are looking for capital in Indonesia

Having their own market, Chinese construction companies are looking for capital in Indonesia

2023-09-21 17:34:29

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Left to right: Michael Albert Massie (operational and financial director of Koka), Daud Gunawan (UOB Kay Hian Sekuritas), Gao Jing (Vanessa–main director of Koka), and Zhao Mingwei (main commissioner of Koka). Photo/Ist

JAKARTA – The large number of Chinese projects in Indonesia is an opportunity for PT Koka Indonesia Tbk. PT Koka is a contractor that has experience handling strategic projects in Indonesia from China.

In order to strengthen capital, the company plans to list its shares (IPO) on the Indonesia Stock Exchange (BEI) in October 2023. The company will release around 715,333,000 shares or around 25% of the issued and fully paid capital after the public offering.

“Koka shares are offered at a price range of between Rp. 128 to Rp. 161 per share. The company has appointed PT UOB Kay Hian Sekuritas as the underwriter for the IPO,” said Michael Albert Massie, Director of Operations and Finance of PT Koka Indonesia Tbk, in his statement, Thursday ( 9/21/2023).

According to Michael, if the entire process goes smoothly, it is estimated that the initial listing of the company’s shares on the IDX can take place on October 11 2023. Funds obtained from the IPO proceeds of between IDR 91.56 billion and a maximum of IDR 115.16 billion will be used for business development in the form of purchasing equipment. heavy equipment and also working capital.

“Koka was founded in 2011 and operates in the general contracting sector. The company has high qualifications in the fields of building construction, industrial factory construction, and bridges and tunnels, and the company has carried out a series of investment and construction engineering projects in Indonesia,” added Michael.

Michael added, for more than 10 years the company has worked on more than 100 projects in Indonesia, and in carrying out its business activities PT Koka implements a quality management system, occupational health and safety management system based on international standards.

“Currently Koka is controlled by Gao Jing, a Chinese citizen, who acts as the controlling shareholder and main director,” said Michael.

(uka)

#market #Chinese #construction #companies #capital #Indonesia

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