JAKARTA. PT Bersama Mencapai Puncak Tbk (BAIK), the owning company of Ayam Goreng Nelongso business, aims to score net profit growth of up to 70% year-on-year (yoy) in 2024 after conducting its initial public offering (IPO).

Nanag Suherman, President Director of BAIK, said that the target is in line with the company’s strategy to increase the number of outlets. This strategy will kick off by opening approximately 15 to 20 new outlets.

For the first phase, BAIK will open up a new outlet in Jakarta. “Jakarta is selected as it has a huge market. Then, once viral or crowded, we will immediately expand to another region,” Suherman mentioned after listing the stock on Indonesia Stock Exchange (IDX) yesterday (15/2).

Not only that, BAIK even aims to open a new outlet outside Indonesia. “This year we aim for one, definitely. Pray for us, either in Malaysia or Singapore,” added Suherman.

According to IDNFinancials data, BAIK is the 18th listed company in IDX in 2024. The business conducted by the company involves non-primary consumer goods, alongside restaurant sub-industry.

In its IPO, BAIK issued 1.12 billion shares for IDR 278 each. The shares ordered during IPO were recorded at 8.58 billion, or oversubscribed up to 38.16 times. (KR/ZH)