Wika Gedung Eyes Rp 1t IPO Target in 2016
Jakarta. Wijaya Karya Gedung, a unit of state-owned construction firm Wijaya Karya, better known as Wika, plans for raise Rp 1 trillion ($73 million) from selling 30 percent of its expanded shares in the second half of next year.
Wika Gedung will also merge with its parent company's high-rise building division to increase the asset value of both units, according to Wika corporate secretary Suradi Wongso.
"We will do the merger before the IPO, considering we still have many quite large [high-rise] building projects," Suradi said on Wednesday, without elaborating.
Wika Gedung now contributes around a fifth of Wika's annual revenue.
Tags: Keywords:POPULAR READS
News
3 hours ago
Envoy Reveals Key to Australia’s Strong Ties with Indonesia
Australia sees enhancing people-to-people ties is crucial to forging stronger relations with Indonesia.
Special Updates
6 hours ago
Aryaduta Bali Hosts Exclusive Wedding Open House
As one of Bali's premier wedding destinations, Aryaduta Bali showcased its unparalleled elegance and breathtaking tropical surroundings.
Business
7 hours ago
Fallen Crypto Mogul Sam Bankman-Fried Sentenced to 25 Years in Prison
Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud on hundreds of thousands of FTX customers.
Lifestyle
7 hours ago
HKTB Targets Indonesian Muslim Tourists for Hong Kong
With a population of around 270 million, Muslim tourists from Indonesia will continue to be an important tourism segment.
News
9 hours ago
Jokowi and Prabowo Bond, PDI-P and PKB Ministers Absent from Cabinet Ramadan Gathering
President Joko Widodo (Jokowi) along with Vice President Ma'ruf Amin invited the Ministers of the Indonesia Maju Cabinet for an iftar (breaking fast) gathering at the State Palace, Thursday, March 28, 2024. (Beritasatu.com/Ilham Oktafian)Popular Tag
Most Popular
1
Indonesian Horror Movie 'Kiblat' Considered Affront to Islam
2
Police Investigation Reveals 1,000 Indonesian Students in Germany Exploited as 'Ferienjob' Laborers
3
Indonesian Police Reveal 'Ferienjob' Trafficking Scheme Involving Dozens of Students
4
IDI Warns Eid Travelers of COVID-19 and Singapore Flu
5
Anies Baswedan Challenges Election Outcome as MK Begins Disputes Hearing