Investcorp completes first IPO in Indonesia

Investcorp has announced the initial public offering (IPO) on the Indonesian stock exchange of its portfolio company PT Multitrend Indo, Mothercare Indonesia’s franchisee.

Mothercare is Indonesia’s leading baby and kids omni channel platform, operating more than 126 retail stores and distributing more than 21 brands including ‘Mothercare’ and ‘ELC’.

This is the Bahrain-based alternative investment manager’s first IPO on the Indonesian stock exchange and the 26th IPO in the firm’s 40-year history.

It brings Investcorp’s total IPO experience to nine exchanges having previously managed IPOs on the Nasdaq, the New York Stock Exchange, the Nasdaq Helsinki, the Swiss Stock Exchange, Tadawul in Saudi Arabia, the Hong Kong Stock Exchange and the BSE in Mumbai.

With its footprint in more than 100 cities and 35,000 distribution points, Mothercare is well-positioned to benefit from the expected growth in the premium baby and kids sector, which is primarily driven by attractive demographics.

Indonesia has the fourth largest population in the world at around 280 million, 72m of which are aged below 14. It also has one of the highest fertility rates in Asia with 4.3m babies born every year.

Mothercare Indonesia’s IPO comes as Investcorp marks its growing commitment to Asia. The Firm currently has five offices across the continent with over $1.2 billion invested in 40 portfolio companies. Globally, Investcorp has more than $50bn in assets (including assets managed by third-party managers) under management across three continents and various asset classes and product lines.

Investcorp executive chairman Mohammed Alardhi said: “Investcorp’s IPO experience and track record of successful listings across several different exchanges showcases our ability to take companies public. It has only been six years since we set up our presence in Southeast Asia in 2017 and we’re seeing great potential for business. Asia is a key engine of growth for our long-term plan.”




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