Aneka Gas Industri Tbk (AGII), a gas industry company under Samator Group, is targeting to expand filling station in 35 provinces by IDR 337 billion. The expansion will encourage net profit of IDR 80 billion, rise 90.47% than the previous net profit of IDR 42 billion.
The expansion will be paid by IPO. The company gained IDR 843 billion from sales of IDR 766,66 million shares or 25% of shares to public investor. Around 40% of IPO will be used for capital expenditures (capex), 40% for paying its loans, and 20% for work capital.
Rachmat Harsono, Vice President Director of AGII, said that AGII has 44 plants and 80 filling stations in 22 provinces. AGII sells gas industry products, like oxygen, nitrogen, argon, gas mixtures, specific gas, and gas fuel, which is used by steel industry, precast concrete, health industry, manufacture, and food and beverage industry. AGII targets revenue growth by 30% to IDR 1.85 trillion this year.
The company dominates the gas national industry by 30%. The competitors are the international gas companies, like Airgas (US), Linde AG (Germany), and Air Liquide (France). On Wednesday (28/9), AGII rose by 5.9% to IDR 1.165. (*)
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