JAKARTA – PT Yupi Indo Jelly Gum Tbk (YUPI), the producer of Yupi gummy candy, successfully conducted its initial public offering (IPO) today (25/3), raising fresh funds amounting to IDR 2.04 trillion.

According to the prospectus, around 72% of the IPO proceeds will be allocated for the construction of a new factory in Nganjuk, East Java.

"The total estimated cost is around IDR 437.5 billion, and it is expected to begin operations as early as 2026," the management added in the prospectus.

Furthermore, the remaining 28% will be used as capital for business expansion in both domestic and international markets.

"With a well-planned expansion strategy, we are confident that Yupi will extend its footprint in the global market, while continuing to strengthen its position as a market leader domestically," said YUPI President Director, Yohanes Teja, in Jakarta (25/3).

YUPI offered 854.44 million shares during its market debut, representing 10% of the company’s placed and paid-up capital after the IPO.

The current shareholders consist of PT Sweets Indonesia (PTSI), which controls 89.9% of YUPI's shares, followed by Daniel Budiman with 0.1%, and the public holding 10%. (ZH)