22 Jan 2020 Press Release
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PT DIAMOND FOOD INDONESIA Tbk. Listed on the floor on the IDX

PT Diamond Food Indonesia Tbk. ("DFI"), one of the leading food and beverage companies in Indonesia, today became the 7th company to be listed on the Indonesia Stock Exchange in 2020 under the DMND stock code. The initial price of DMND shares is set at Rp915 per share. DFI shares are categorized as Sharia shares by the Financial Services Authority.


Through this IPO process, DFI will issue 1,158.36 million new shares including shares issued in the context of the implementation of the Convertible Bond and obtain funds to increase share capital of Rp1,148 billion. Simultaneously in this IPO, DFI also held an Employee Stock Allocation (ESA) Program of as many as 7,310,000 shares.
 
Chen Tsen Nan, as Director of DFI, revealed that around 20% of the proceeds from the IPO will be used for working capital to support DFI's operational activities and around 80% will be used by DFI to deposit capital to one of DFI's subsidiary companies, PT Sukanda Djaya for working capital purchases stock. This is because PT Sukanda Djaya's contribution for the 7-month period ended July 31, 2019 contributed 77.1% of Diamond Group's consolidated revenue.
 
Historically the Diamond Group's revenue from sales of branded products has continued to increase where the increase was 8.1% from Rp4,212.4 billion in 2016 to Rp4,553.2 billion in 2017, increasing 18.3% to Rp5,384, 4 billion in 2018 and as of 31 July 2019 it increased 11.7% to Rp3,402.6 billion from the same period in 2018 of Rp3,044.3 billion. With a record of excellent growth in the Diamond Group, DFI's Go-Public is one of the milestones and opens a new chapter for DFI in a marathon race.
 
At present the Diamond Group cold chain distribution network has reached all regions of Indonesia with 21 distribution points that are self-operated and supported by more than 900 shipping fleets that reliably supply products to 34 provinces in Indonesia. Philip Chen, as Director of PT Diamond Food Indonesia Tbk., Believes that the demographic growth and increasing purchasing power of the Indonesian people will have a very positive impact on the progress of the company's business, supported by the company's ability to distribute products throughout Indonesia and a diverse product portfolio.

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