Indonesia’s Saratoga Capital plans two IPOs

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Sandiaga Uno, founder and director of Saratoga Capital

Indonesian private equity company, Saratoga Capital, will have another of its units go public this year after it already announced an initial public offering for its car and motorcycle distribution unit Mitra Pinasthika Mustika (MPM) in April.

The second unit will be Saratoga Investama Sedaya, the company said in a statement on May 22.

Jakarta-based MPM is expected to raise $149 million from an IPO set to take place on May 29 , which is less than the company had initially sought after it cut the size of the share sale. MPM is offering 970 million shares — a 27.3 per cent stake — to investors.

No date has been set yet for the IPO of Saratoga Investama Sedaya, but it is expected to also happen in the second quarter of 2013. The investment firm is  planning to raise around $200 million in a first equity offering by an private equity firm at the Jakarta Stock Exchange.

Saratoga Capital currently owns 15 companies, including coal miner PT Adaro Energy, telecommunication tower operator PT Tower Bersama Infrastructure, power company PT Medco Power Indonesia, plantation firm PT Provident Agro and flag carrier Mandala Airlines.

The company’s founder and director, Sandiaga Uno, said that Saratoga’s total assets were worth around $1.02 billion as of the end of 2012, which was a three-fold increase over the past five years. Uno said he is targeting a further tripling of its assets in the next five years on the back of the country’s strong domestic economy. Saratoga is planning to invest mainly in the consumer, infrastructure and natural resources sectors.

 

 

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Reading Time: 2 minutes

Sandiaga Uno, founder and director of Saratoga Capital

Indonesian private equity company, Saratoga Capital, will have another of its units go public this year after it already announced an initial public offering for its car and motorcycle distribution unit Mitra Pinasthika Mustika (MPM) in April.

Reading Time: 2 minutes

saratoga-nrc
Sandiaga Uno, founder and director of Saratoga Capital

Indonesian private equity company, Saratoga Capital, will have another of its units go public this year after it already announced an initial public offering for its car and motorcycle distribution unit Mitra Pinasthika Mustika (MPM) in April.

The second unit will be Saratoga Investama Sedaya, the company said in a statement on May 22.

Jakarta-based MPM is expected to raise $149 million from an IPO set to take place on May 29 , which is less than the company had initially sought after it cut the size of the share sale. MPM is offering 970 million shares — a 27.3 per cent stake — to investors.

No date has been set yet for the IPO of Saratoga Investama Sedaya, but it is expected to also happen in the second quarter of 2013. The investment firm is  planning to raise around $200 million in a first equity offering by an private equity firm at the Jakarta Stock Exchange.

Saratoga Capital currently owns 15 companies, including coal miner PT Adaro Energy, telecommunication tower operator PT Tower Bersama Infrastructure, power company PT Medco Power Indonesia, plantation firm PT Provident Agro and flag carrier Mandala Airlines.

The company’s founder and director, Sandiaga Uno, said that Saratoga’s total assets were worth around $1.02 billion as of the end of 2012, which was a three-fold increase over the past five years. Uno said he is targeting a further tripling of its assets in the next five years on the back of the country’s strong domestic economy. Saratoga is planning to invest mainly in the consumer, infrastructure and natural resources sectors.

 

 

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