IPO Highlight Chandra Daya Investasi
KBVS Update
Wednesday, 02 July 2025
IPO Highlight PT Chandra Daya Investasi (CDIA)
■ PT Chandra Daya Investasi (CDIA), TPIA’s subsidiary, plans an IPO of 12,482,937,500 shares (10%) at IDR 190/share, aiming to raise IDR 2.4 trillion. Around 63% of the IPO proceeds will be allocated for expanding port & storage business, while the remaining 37% allocated for the logistic business to purchase vessels or ships for petrochemical.
■ In 2024 the company recorded revenue of USD102.25 million, the majority of the company’s revenue came from Sales of Electricity & Services (78.7%) and Sales of Fuel (11.2%) while Time Charter Vessels Services contributed 5.5% to total revenue in 2024 also Tanks & Jetty Leases around 4.7%.
■ At an offering price of IDR 190 per share, CDIA’s valuation translates to a 2024 price-to-earnings (PE) ratio of 48x and a post-IPO price-to-book value (PBV) of 1.65x — a premium compared to the industry peers.
■The IPO offering period is scheduled for July 2–7, 2025, with the IDX listing set for July 9, 2025
Regards,
KBVS Research team