Sarinah To Go Public

Jakarta, July 26 (ANTARA) - State-owned operator of shopping centers PT Sarinah said it will launch initial public offering after construction of its new building Sarinah Square has been completed. The new building will house a department store, apartment houses and office rooms, company president director Mira Amahorseya said here on Thursday. "The Sarinah Square will serve as an international new shop window for Sarinah," he added. Before launching IPO, Sarinah plans to issue bonds , he said declining to give details. He predicted Sarinah would chalk up Rp405 billion in income this year or a significant increase from Rp275 billion last year with net profit forecast to rise 27 percent to Rp19 billion.