Post-IPO Performance of Cap Tikus 1978 and Hatten Wines

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Adi Ahdiat 06/01/2023 12:10 WIB

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Two local alcoholic beverage producers, Cap Tikus 1978 and Hatten Wines, conducted Initial Public Offerings (IPOs) in January 2023. This shows their financial performance during the two-year pandemic

Net Profit/Loss of Cap Tikus 1978 and Hatten Wines (2020-2021)

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Post-IPO Performance of Cap Tikus 1978 and Hatten Wines

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Net Profit/Loss of Cap Tikus 1978 and Hatten Wines (2020-2021)

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PT Jobubu Jarum Minahasa, the producer of the Cap Tikus 1978 brand of alcoholic beverages, conducted an initial public offering (IPO) on January 6, 2023.

The company, with the stock code BEER, offered 800 million new shares at a price range of Rp220 per share.

They aimed to raise Rp176 billion from the IPO. Approximately 5.36% of these funds were planned to be used for purchasing land in Semarang Regency, Central Java. A further 6.23% was allocated for building production facilities on that land. The remaining IPO funds were allocated for other working capital.

According to the company's prospectus, PT Jobubu Jarum Minahasa recorded a net profit of approximately Rp1 billion in 2020, which surged to Rp10 billion in 2021.

"The Indonesian alcoholic beverage market is currently estimated at over US$9.5 billion, and according to the Association of Local Wisdom Alcoholic Beverages (AMBKL), the market will continue to grow," stated the management of PT Jobubu Jarum Minahasa in its prospectus.

Simultaneously with Cap Tikus 1978, PT Hatten Bali, which produces the Hatten Wines brand of alcoholic beverages, also conducted an IPO from January 3-6, 2023.

The issuer, with the code WINE, offered 678 new shares at a price of Rp129 per share. Approximately 20% of the IPO proceeds were planned to be used for working capital, specifically for promotion. The remaining 80% was allocated for the purchase of raw materials for production.

Unlike Cap Tikus 1978, Hatten Wines producer recorded a loss of approximately Rp9.8 billion in 2020. This loss decreased to Rp8.7 billion in 2021.

The Bali-based company stated that their losses in 2020-2021 were primarily due to the Covid-19 pandemic.

"The impact of the pandemic was particularly felt in Bali Province, considering Bali is a major tourist destination, especially given that the Company's main target market is foreign tourists," said the management of PT Hatten Bali in its prospectus.

"Travel restrictions and fears of the virus spread caused a drastic decrease in the number of both domestic and foreign tourists, which affected the Company's revenue performance," it continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Post-IPO Performance of Cap Tikus 1978 and Hatten Wines

Post-IPO Performance of Cap Tikus 1978 and Hatten Wines

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Post-IPO Performance of Cap Tikus 1978 and Hatten Wines

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