JAKARTA: Indonesia’s leading jelly gum producer, Yupi Indo Jelly Gum, is set for significant domestic and regional expansion through its upcoming initial public offering (IPO) on March 21, positioning itself for further market dominance.
The company aims to raise 2.1 trillion rupiah (S$171 million) by offering approximately 854 million shares, representing 10% of its total equity, at a price range of 2,100 to 2,500 rupiah per share, according to its prospectus filed on Thursday.
Of the shares on offer, 598.11 million will come from major shareholder Sweets Indonesia, while the remainder consists of newly issued shares.
Expanding Production and Market Reach
Yupi plans to allocate 77% of its IPO proceeds, amounting to 437 billion rupiah, towards building a new factory in Nganjuk, East Java, slated for completion in 2026. The remaining funds will support the company’s expansion both domestically and internationally.
“This allocation is intended to anticipate market demand and ensure sufficient stock availability,” the company stated in its prospectus.
The book-building period will run from March 17 to 19, with CIMB Niaga Sekuritas and Mandiri Sekuritas serving as underwriters.
Market Leadership and Global Footprint
Headquartered in West Java, Yupi Indo Jelly Gum dominates Indonesia’s soft-candy market with a 65% market share. Established in 1996, the company operates two manufacturing plants in West Java and Central Java, with a combined annual production capacity of 93,000 tonnes.
Known for its innovative gummy creations, including burger and waffle-shaped candies, Yupi’s flagship brands—Yupi, Just for Fun, and Gummy Zone—have gained traction beyond Indonesia, with exports to nine Southeast Asian countries and 36 global markets.
Financial Performance
The company has seen strong financial growth, reporting a 38% increase in profit in 2023, reaching 560 billion rupiah, up from 404 billion rupiah in the previous year.
With its IPO, Yupi aims to solidify its position as a key player in the global confectionery market, leveraging its strong brand presence and expanding production capabilities.
