B2B firm to launch IPO

B2B firm to launch IPO

JAKARTA (JP): PT Global Jaringan Nusantara, the Indonesian
unit of Hongkong-based B2B e-marketplace provider Global Sources
plans to launch a domestic initial public offering (IP0) in
October.

Company spokeswoman Tien Hartono said on Tuesday that Global
Jaringan, which was established last year, needed fresh funds to
boost its working capital.

"We're quite optimistic that we will be successful in our
IPO," she told The Jakarta Post during a media briefing.

She didn't provide details of the IPO plan.

Tien said that the firm's business-to-business (B2B)
operations had some 100,000 buyers all over the world as part of
a network with Global Sources.

Currently, about 40 Indonesian producers of furniture
products, handicrafts, textiles, footwear, leather, food and
beverages had became members of the company's B2B e-marketplace,
she added.

This includes Jakarta-based furniture-maker The Batavian,
Yogyakarta-based handicraft-maker Batavia Connection and Cirebon-
based rattan furniture producer CV Putra Mas.

Aside from B2B e-marketplace, the company, whose homepage
address is at www.indonesiansources.com, also offers software
solutions.(05)