DLA Piper advises leading Indonesian consumer goods and agricultural business on IPO
DLA Piper has advised Widodo Makmur Perkasa, the holding company of Widodo Makmur Group on its initial public offering (IPO) of 4.41 billion shares at a price of IDR160 per share, representing 15.02% of the company’s issued capital. Listed on the Indonesia Stock Exchange on 6 December 2021, the company has a market capitalization of approximately USD325 million.
Established in 1995, Widodo Makmur Perkasa is one of the leading consumer goods and agricultural commodity companies in Indonesia. It has five principal lines of business including livestock, meat processing, poultry, commodities and construction & energy.
DLA Piper provided international counsel and the transaction was led by partner Joe Bauerschmidt, Country Managing Partner for Singapore. Joe was primarily assisted by associates Karen Lee and Ying Chern Tan, and paralegal Vekaneshvari Jayabal, all based in Singapore.
Joe commented “We are delighted to have advised Widodo Makmur Perkasa on its IPO. We are thankful to the entire WMP team for their tireless efforts, especially Pak Tumiyana for his unwavering support. This is a very exciting time for WMP's business - the growth prospects for the beef and poultry markets in Indonesia are amazing."