PT PP Presisi, subsidiary of state investment and construction firm PT Pembangunan Perumahan Tbk (PTPP) plans to launch the initial public offering (IPO) in third quarter (Q3) this year. The Company is now seeking underwriting firms for its IPO. PP Presisi is national scale construction service company based on heavy equipment. It provides ready mix, foundation, civil work, erector, formwork, and rent equipment. PTPP earlier said it also plans to launch the IPO of its three units. That 3 units are PT PP Urban (Q3/2017), PT PP Energi (Q4/2017) and PT PP Infrastruktur (2018). For this year PTPP targets to book revenue of Rp40.6 trillion, contributed by construction segment (56.2%), EPC (20.8%), Precast (10.6%), Property (7.6%), Infrastructure & Energy (2.7%), and Construction equipment (PP Presisi) will contribute 2.2% revenue.
