Hermanto Tanoko Prepares Jumbo IPO for Chemical Building Materials Company
Main Takeaways
|
JAKARTA, Investortrust.id – Hermanto Tanoko, the founder and chief executive of PT Tancorp Investama Mulia, said he intends to launch an initial public offering for a chemical building materials company on the Indonesia Stock Exchange within the next one to two years, in what is expected to be a jumbo IPO.
He made the announcement on Thursday, Jul. 10, 2025, after attending the ceremonial listing of shares of PT Merry Riana Edukasi Tbk (MERI) at the exchange’s headquarters in Jakarta.
Hermanto said the new offering will come from a Business-to-Consumer (B2C) company in the chemical sector that can leverage the nationwide distribution network of PT Avia Avian Tbk (AVIA). The company’s primary focus will remain on supplying building materials.
“Investors are already lining up, but each company must demonstrate strong performance first. This one is in the chemical sector, targeting our entire Avia Avian network. We expect the IPO to take place in one to two years,” he explained.
Photo Caption: Hermanto Tanoko gives a statement at the press conference following the inaugural listing of BLES shares on the Indonesia Stock Exchange, Jakarta, on Monday, Jul. 8, 2024.
Hermanto, a Surabaya-born conglomerate, has also become a strategic investor in the education sector through his stake in MERI, whose shares surged 34.38% to Rp 172 on their first day of trading, hitting the upper auto-rejection limit.
He said that taking more national companies public is part of his vision to strengthen Indonesia’s domestic industry and promote national self-reliance.
“I want more Indonesian companies to become market leaders domestically. We shouldn’t import all our products; we aim not only to match them but to innovate beyond expectations for the benefit of all Indonesians,” he added.
Hermanto emphasized that he will only list companies that are ready for sustainable growth. “If a company isn’t prepared to grow, I won’t take it public. But if it has proven its resilience and future prospects, I’ll support its IPO,” he said.
He also highlighted the importance of investor literacy and long-term commitment, urging retail investors to focus on fundamentals such as price-to-earnings ratios and growth potential rather than short-term market swings.