Kino Indonesia: Plans to acquire small companies dealing in consumer goods.
Kino Indonesia (KINO) plans to use its IPO fund to acquire small local companies dealing in consumer goods. The company is in discussions with one of the local companies which produces personal and home care products. KINO has set aside a capex of Rp234.5b for the acquisition plans. KINO aims to grow revenue by 40% yoy in 2016, which will be mainly supported by its personal and home care business lines. In the IPO last month, KINO raised Rp868.65b in fresh funds, of which 50% will be used to increase production capacity, 30% to acquire small local companies and 20% to improve working capital.