Indonesia: Saratoga to raise $1b in IPO

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Sandiaga Uno
Saratoga Investama Sedaya co-founder Sandiaga Uno

Indonesian private equity firm PT Saratoga Investama Sedaya aims to raise more than $1 billion from its own initial public offering (IPO) and a listing for its car and motorcycle distribution unit this year, co-founder Sandiaga Uno said on April 3.

Saratoga is expected to raise $200 million, the vehicle unit PT Mitra Pinasthika Mustika $800 million. The firm has picked UBS AG and Deutsche Bank to lead the IPOs.

Saratoga, founded in 1998 by Sandiaga Uno and fellow Indonesian tycoon Edwin Soeryadjaya, is looking to take advantage of strong liquidity inflow into Indonesia and to be among the first private equity players to launch an IPO in Asia.

The investment company plans to bring at least one IPO per year from their pipeline.

Saratoga owns shares in several major Indonesian companies, including coal miner PT Adaro Energy and PT Tower Bersama Infrastructure, a telecommunications tower operator.

Other expected 2013 IPOs in Indonesia are plantation companies Dharma Satya Nusantara and Austindo Nusantara Jaya , eyeing $300 million and $150 million, MPM Motor, the sole distributor of Honda motorcycles in East Java, eyeing $200 million, and state-owned cement maker Semen Baturaja aiming to raise $154 million.

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Reading Time: 1 minute

Saratoga Investama Sedaya co-founder Sandiaga Uno

Indonesian private equity firm PT Saratoga Investama Sedaya aims to raise more than $1 billion from its own initial public offering (IPO) and a listing for its car and motorcycle distribution unit this year, co-founder Sandiaga Uno said on April 3.

Reading Time: 1 minute

Sandiaga Uno
Saratoga Investama Sedaya co-founder Sandiaga Uno

Indonesian private equity firm PT Saratoga Investama Sedaya aims to raise more than $1 billion from its own initial public offering (IPO) and a listing for its car and motorcycle distribution unit this year, co-founder Sandiaga Uno said on April 3.

Saratoga is expected to raise $200 million, the vehicle unit PT Mitra Pinasthika Mustika $800 million. The firm has picked UBS AG and Deutsche Bank to lead the IPOs.

Saratoga, founded in 1998 by Sandiaga Uno and fellow Indonesian tycoon Edwin Soeryadjaya, is looking to take advantage of strong liquidity inflow into Indonesia and to be among the first private equity players to launch an IPO in Asia.

The investment company plans to bring at least one IPO per year from their pipeline.

Saratoga owns shares in several major Indonesian companies, including coal miner PT Adaro Energy and PT Tower Bersama Infrastructure, a telecommunications tower operator.

Other expected 2013 IPOs in Indonesia are plantation companies Dharma Satya Nusantara and Austindo Nusantara Jaya , eyeing $300 million and $150 million, MPM Motor, the sole distributor of Honda motorcycles in East Java, eyeing $200 million, and state-owned cement maker Semen Baturaja aiming to raise $154 million.

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