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November 8, 2011

ABM Reaps Success through Public Expose and Due Diligence Meeting

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More than 500 enthusiastic investors came to ABM Investama (ABM) Public Expose (PE) and Due Diligence Meeting (DDM). ABM successfully held its PE and DDM at the Ritz Carlton – Pacific Place, Jakarta, Indonesia. In the event, ABM publicly announced the company's initiative to sell 20 percent of the company's shares to the public. ABM plans to sell 550,633,000 shares with the nominal value of Rp 500 per share.

Both the PE and DDM were led by PT Macquarie Capital Securities Indonesia and PT Mandiri Sekuritas as the appointed underwriters. Representing ABM Management as spokespersons were President Director Andi Djajanegara, Corporate Strategy Director Yovie Priadi, Corporate Finance Director Willy Adipradhana, and Corporate Support Services Director Syahnan Poerba. ABM Commissioners Rachmat Mulyana (Muki) Hamami, Mivida (Mia) Hamami and Erry Riyana Hardjapamekas were also in attendance.

According to Teuku Hendry Andrian, analyst at PT Woori Korindo Securities as quoted in Bisnis Indonesia, ABM Company's attractive share price and promising business prospects will create enthusiasm among investors. Another analyst, Head of Research MNC Securities Edwin Sebayang voiced similarly encouraging opinion, saying that, on the whole, ABM had great prospects in view of its 26-percent revenue growth and its plan of using funds from the IPO to repay debt. According to Edwin, volatility of the global market would not cast a negative impact on the IPO.