Jakarta, Indonesia – PT. Daya Intiguna Yasa Tbk., the Indonesian arm of Malaysian improvement retailer Mr D.I.Y, has announced an initial public offering (IPO), targeting to raise IDR4.71t (around $297m), according to a prospectus released by the company. For them, this strategic step aims to accelerate expansion and strengthen its position as a leader in the non-grocery retail industry in Indonesia.
Through the planned IPO, the company will allocate the funds obtained from the IPO for several purposes. Around 60% will be used for principal debt payments, 30% will be allocated for the cost of opening new stores in the Jabodetabek, Java, Sumatra, Sulawesi, Kalimantan, Nusa Tenggara, Papua, and Maluku Islands areas. Lastly, the remaining 10% will be used as operational working capital.
With more than 800 stores spread across Indonesia, MR. DIY has become the main destination for household needs in various regions evenly. This rapid growth reflects not only the strength of the company’s business model, but also the success of its aggressive expansion strategy.
Edwin Cheah, president director of PT. Daya Intiguna Yasa Tbk., said, “.We have a vision to continue to expand our reach to serve more customers throughout Indonesia, presenting quality products with the best value that are affordable for all groups.”
He added, “In the first five years (2017-2022), we managed to open 400 stores. However, in the last two years alone (2022-2024), we have added around 400 more stores. This proves our ability to continue to accelerate growth and reach more customers in various regions. This IPO is not only about business growth, but also about creating a positive impact for the Indonesian people. With this step, we are optimistic that MR. DIY will continue to be a reliable partner for customers, the community, and shareholders.”
