• Kamis, 28 September 2023

Avia Avian (Tancorp) Going Public

- Senin, 15 November 2021 | 16:53 WIB
Avia Avian (Tancorp) Going Public
Avia Avian (Tancorp) Going Public

In 1982, Hermanto helped his father handle the paint store business with hundreds of staff, enjoying two-digit growth per year. Within 20 years, Hermanto built an integrated manufacturing facility, managing its raw material and packaging.

Hermanto then developed its own business, and in 2016 he set up Tancorp as a holding entity for eight sub holdings and 36 business units, supported by more than 15,000 staff members.

Hermanto had in 2017 divested his bottled water producer Sariguna Primatirta (CLEO) through the IPO. CLEO booked a net profit of Rp136.6 billion in the first 9M of 2021, grew 44.7% y/y as sales rose 11.5% y/y to Rp803 billion and selling expenses declined 8.7% y/y to Rp94.4 billion.

Sariguna plans to expand its factory capacity in Bojonegoro (Citeureup) and build a new factory in Balikpapan. Its shareholders are PT Tancorp Global Sentosa (25.58%), PT Tancorp Global Abadi (55.79%), and public investors (18.63%).

It booked a net profit of Rp33.93 billion in the second half (H2) of 2021, on revenue of Rp201 billion.***



Editor: Christianus Wai Mona



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