IKAI will acquire another ceramics manufacturer to increase production
JAKARTA - PT Industri Keramik Alamasri Industri Tbk (IKAI) plans to acquire another ceramics manufacturer to increase its production capacity to 8 million m2 per year. With the acquisition, which is planned to be carried out through its subsidiary, the company hopes to increase its revenue.
As quoted from the company's disclosure, as of September, the company has only managed to record production capacity of 4.5 million m2 per year(through its subsidiary, PT INKA). The company considers it necessary to increase its production capacity to fulfil growing demand from the hotel and accommodation sector.
In November 2019, IKAI obtained Rp 169.34 billion through a private placement. In the corporate action, the company released 1,209,618,126 shares at an exercise price of Rp 140 per share. (LK/AR)