PT. MARTINA BERTO : IPO VALUATION

It was September 2010, more than a year since PT Martina Berto’s owners decided to take the company to another level of its life cycle, to be a public company. Almost all necessary requirements for going public had been prepared. PT Martina Berto’s management had worked flat out to prepare all documents and appointed advisors required by Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam LK) to register PT Martina Berto initial public offerings (IPO). It was a massive work for the management. However, Bryan David Emil, the CEO of PT Martina Berto, thought that those hard works were worthy. He believed by taking PT Martina Berto going public was the right way for the company to achieve its vision as a leading company in beauty and spa industry in Indonesia. Getting fresh cash from IPO for funding its long term strategic plan was one thing, but imposing a good corporate governance practice in the company was the main reason for Bryan why going public was chosen. He believed that good corporate governance would ensure the company sustainability.