Cisarua Mountain Dairy (Cimory) IPO

PT Cisarua Mountain Dairy (CMD), a producer of dairy and consumer foods, aims to raise up to US$263m in its Indonesian IPO. It is a market leader in the overall yogurt sub-category as well as in the spoonable and drinking yogurt segments with a market share of 53.2%, 71.9% and 50.3%, respectively. In addition, the company also has a presence in the flavored milk segment, fresh white milk segment, chilled processed meat and frozen processed meat sub-categories. CMD’s revenue grew by 28% YoY in ...