JAKARTA. PT Pyridam Farma Tbk (PYFA) plans to issue a Rp 300 billion bond in the Pyridam Farma Public Bond Offering I of 2020.
PYFA estimates that the public offering period will take place from 4 to 8 January 2021. The yield of the bond has yet to be decided, although the company has announced that the bond has a tenor of five years from the issuance date.
The bond has been awarded an "idA" rating from PT Kredit Rating Indonesia (KRI), which will be renewed every year.
According to an early prospectus, PYFA said 10% of the proceeds will be used to develop health products, 35% as working capital, and 55% for business development.
Currently PYFA has Rp 198.37 billion worth of assets as of June 2020. 40.48% of the company's shares is owned by Rejuve Global Investment Pte Ltd, 22.94% by PT Aldiracita Sekuritas Indonesia, 7.13% by DBS Bank Ltd, 5.04% by Starindo Kencana Sejahtera, and 24.41% by public investors. (KR/MS)