Daya Guna offers shares<\/p>\n
JAKARTA (JP): PT Daya Guna Samudra, a fishery company based in
\nAru, South Maluku, which operates 150 fishing boats, plans to
\noffer 20 percent of its shares to the public to raise between Rp
\n170 billion (US$72 million) and Rp 200 billion.<\/p>\n
The company said in a statement yesterday that the share
\noffering proceeds will be allocated to finance its expansion
\nproject, strengthen its working capital and repay debts.<\/p>\n
Daya Guna currently has an annual production capacity of
\n80,000 tons of canned fish, prawn and fishmeal but the
\nsustainable fish catch in the eastern Indonesian waters is
\nestimated at 2.5 million tons a year.<\/p>\n
\"Most of the production is exported to Thailand, China,
\nSingapore, Japan and Malaysia,\" the statement said.<\/p>\n
ING Baring Securities, which is acting as the lead underwriter
\nof the share issue, said that the shares will be priced with a
\nprice earning ratio of six to 10 times.<\/p>\n
Daya Guna, established in 1978, recorded an increase in its
\nnet profit from Rp 12 billion in 1994 to Rp 45.8 billion last
\nyear.<\/p>\n
It expects to book a profit of Rp 96 billion this year.<\/p>\n
ING Baring said that Daya Guna's revenue rose from Rp 226
\nbillion in 1994 to Rp 336 billion in 1995. (alo)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/daya-guna-offers-shares-1447893297",
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