REPUBLIKA.CO.ID, SEMARANG -- A pharmaceutical company, PT Pharos plans to set an initial public offering (IPO) as the need of substantial capital to build a new plant in Ungaran, Bali. Presiden Director of Pharos, Iswanto said that company targeted to obtain IPO proceeds worth 500 billion IDR.
He hopes all process going well and IPO can be conducted in second semester of 2015. Pharos invites all supporting institutions to prepare this plan, such as underwriters, professional institutions and capital market.
"If the preparation has reached 80 percent, we will carry out a shareholders' meeting," Iswanto said recently.
Pharos recorded a profit of 42.19 billion IDR despite fluctuated condition of global economy, which affected company's revenue. Iswanto said that it was an extraordinary achievement in the middle of a tough economic condition. USD currency increased 26 percent from the beginning to the end of 2013.
About 50 percent or 21.10 billion IDR of profit was given as dividends to shareholders, increasing 40 percent compared to 2012. In 2013, Pharos managed to maintain the sales of 512.61 billion IDR with investment return of nine percent and return on equity (ROE) of 14 percent.
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