CDIA: The Most Anticipated IPO in 2025, at IDR24tn Valuation

Key Summary:
- Company to issue 10%, at offering price of IDR170-190/share
- IDR2.1-2.4tn in IPO proceeds for logistics, port & storage businesses
- Implied market capitalization of IDR21-24tn, at 43-48x PER
Chandra Daya Investasi (CDIA), a subsidiary of Chandra Asri Pacific (TPIA), has released a prospectus detailing its planned IPO on the Indonesian Stock Exchange.
The company intends to issue 12.5bn shares (10% of total) at an offering price of IDR170–190/share, implying IPO proceeds of approximately IDR 2.1–2.4 trillion, and a market capitalization of IDR 21–24 trillion.