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High-Rise Ambitions

With investors demanding nine times the shares available,Waskita Karya proved a massive market hit in what was last year’s only IPO of a state-owned company.

PT. Waskita Karya (Persero) Tbk
Published: 2013

chart-waskita

For Waskita Karya, 2012 proved to be a year of momentous significance with the state-run Indonesian construction and property company turning for the first occasion not to the government for its future financial requirements, but to the stock market instead. Since its establishment in 1961, Waskita Karya has grown progressively on a staple construction regime of power plants, bridges and high-rise buildings, with Jakarta International Airport, BNI City, BI Building and Mandiri Plaza Tower among an expanding portfolio of large and prestigious schemes.

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