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Tuesday, March 2, 2010

Skybee will be list its stock in June

Skybee will be list its stock in June

Irvin Avriano A.

JAKARTA: PT Skybee plans to list its stocks (initial public offering/IPO) in June 2010 worth Rp80billion--Rp90billion, following the acquisition by an investment managers PT Syailendra Capital at the end of 2009.

Syailendra Capital President Director Jos Parengkuan said the IPO plan is accompanied by the appointment of PT Lautandhana Securindo as the underwriter for the securities on the stock exchange floor.

"If the stock issuance plan goes smoothly, we plan the company will list their stock in the capital market in June. In the near future we will submit the document [registration statement] to the Bapepam-LK," he said when contacted bi Bisnis last weekend.

He explained Syailendra Capital ownership in the information technology services company of is potentially diluted 30% --40% of the current position of almost 100%. This was caused by shares that will be released issuers to investors through the IPO is newly issued one.

Jos said the plan will widen the scope of business that currently owned by Syailendra Capital which is now just in the investment manager industry. However, he insisted the company does not use customers' funds for investment in the Skybee.

"The acquisition fund is a pure from the company [Syailendra Capital] profits during the last few years, rather than from customers. The profits is already allocated for investment."

Syailendra manages funds amounting to Rp2 trillion at the end of last year. This year the company set targets Rp3 trillion of its funds under management.

Although the numbers of the Skybee listings is relatively small, he explained that the subsidiary has a very large prospect considering the development of the information technology industry in the country which is very fast, especially related to cell phones sales and using.

SkyBee is a company that focus on product distribution services operators, mobile phones and related services with Internet services in the country. For distribution, Skybee partnership with Carrefour, Hypermart, Giant, and OkeShop.

The company developing social networking programs, mobinity, through its subsidiary PT InTouch Innovative Indonesia. Applications that can be used in almost all qwerty types of mobile phone, so they can boost phone functions like a BlackBerry.



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