Bogasari to launch IPO in September

JAKARTA: Giant flour maker PT Bogasari plans to launch its initial public offering (IPO) in the fourth quarter of this year, an executive of the company says.

"The IPO will take place between September and October this year," Bogasari president director Fransiscus Welirang said on Saturday.

The IPO would mark a spin-off for Bogasari from its principal giant food company PT Indofood Sukses Makmur Tbk.

The firms initially planned to have the IPO mid this year but delayed the plan instead, due to the lack of taxation rules on firms undergoing a spin-off from a listed company, Fransiscus said. -- JP