Grabbing a Share of the Retail Market
Indomarco's share offer is heating up competition in the retail sector. As well as being the franchise leader, Indomaret has now entered residential areas.
October 29, 2000
IT'S not a bad move at all to offer shares to the public when the market is sluggish. This was the ploy of PT Indomarco Prismatama — the owner of Indomaret mini-markets —with its 46-million share initial public offering (IPO) last Tuesday.
Some of the funds raised from Indomarco's IPO will be used to pay off debts and the remainder for expansion. Specifically, Rp6.6 billion will be used to meet some of the debts of the Salim Group R
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