Bahana Securities in its capacity as underwriter successfully conducted an Initial Public Offering (IPO) for Wijaya Karya Beton – a subsidiary of prominent state owned construction firm Wijaya Karya, specialising in precast concrete. The issuing company made available 2.05 billion shares, or a 23.5 percent stake, with the target of raising 1.28 trillion IDR. With an offering price set at 590 IDR per share, Wijaya Karta Beton shares began trading on the Indonesia Stock Exchange (IDX) on April 8th 2014, and peaked at 885 IDR before closing at 760 IDR on its debut. As of its taking place in early April, this was the largest IPO of the year in Indonesia.

It is expected that Wijaya Karya Beton (now Wijaya Karya Beton Tbk) will allocate 85% of its IPO proceeds to fund expansion and the development of new precast concrete plants in Lampung, Cilegon and Makassar. The remaining 15% is to be set aside for additional working capital as the company aims to increase market share to 47%, up from 43% in 2013 (Jakarta Globe). Also serving as underwriter for this landmark transaction were Danareksa Sekuritas, Mandiri Sekuritas and Sukorinvest Central Gani.