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Danareksa Equity Snapshot - 12 Juni 2019
June 12, 2019 09:20

FROM EQUITY RESEARCH

 

MARKET NEWS

 

MACROECONOMY

Government: To Issue Retail SBN in 2020

The government plans to issue retail government bonds (SBN) next year. The money raised will be used to cover the 2020 budget deficit.  The size of the planned budget deficit in 2020 is 1.6-1.9% of GDP.  The government stated that the issuance of Retail SBN would help to reduce the portion of foreign debt that has now reached 40.97% of total debt. In addition, the government also hopes this move will help to reduce the economy‚Äôs vulnerability to global economic shocks. (Kontan)

 

CORPORATE

Plaza Indonesia to Sell Treasury Shares

Plaza Indonesia revealed that it had plans to sell its treasury shares to PT Plaza Indonesia Investama (PII), a special purpose company of DIRE Simas Plaza Indonesia. There are 512.20 million treasury shares in total, or equivalent to 14.43% of the shares outstanding. The total value of the shares to be purchased is Rp1.64tn or around Rp3,208/share. (Investor Daily)

 

Wijaya Karya: Wika Ikon targets an IPO in 2H19

Wijaya Karya (WIKA) plans to conduct an IPO of its subsidiary, Wijaya Karya Industri & Konstruksi (Wika Ikon) in 2H19. The IPO is targeted to raise IDR2.0-2.5tn through the sale of 25-30% of the shares to the public. The IPO proceeds will be used for expansion as Wika Ikon plans to expand its steel production capacity by 50,000tons/year. As such, Wika Ikon expects to start the operation of its new steel factory in 2Q20, resulting in total capacity of 90,000 tons/year. Wika Ikon is engaged in industry and in the trading of spare parts, technical parts, electrical items, packing, pressure vessels, construction materials, and construction services. Meanwhile, WIKA postponed the IPO of Wika Realty in consideration of the formation of the housing sector holding company. (Investor Daily)

 

 

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