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Bahrain’s Investcorp completes first IPO in Indonesia

By Andy Sambidge
Investcorp co-CEO Rishi Kapoor. The Bahraini investment company has more than $50 billion in assets under management across three continents Reuters/Mike Blake
Investcorp co-CEO Rishi Kapoor. The Bahraini investment company has more than $50 billion in assets under management across three continents
  • Mothercare IPO is company’s 26th
  • Brand growing in Indonesia
  • Cepa deal aims for $10bn non-oil trade

Investcorp has successfully listed its Indonesian franchisee of the Mothercare brand as its focus on Asia continues to grow.

The listing of PT Multitrend Indo is the Bahrain alternative investment company’s first IPO on the Indonesian stock exchange and the 26th in its 40-year history.

Mothercare is one of Indonesia’s leading baby and kids retailers, operating more than 126 stores and distributing more than 21 brands. 

Investcorp said the brand’s growth is backed by strong demographics in Indonesia, which has the fourth largest population in the world at around 280 million.

The country also has one of the highest fertility rates in Asia, with 4.3 million babies born every year.

Investcorp now has five offices across Asia, with more than $1.2 billion invested in 40 companies. 

Executive chairman Mohammed Alardhi said: “It has only been six years since we set up our presence in southeast Asia and we’re seeing great potential for business.”
 
Investcorp’s focus on Asia mirrors greater wider Gulf interest in Asian markets and Indonesia in particular. 

The UAE-Indonesia comprehensive economic partnership agreement (Cepa), which came into force on September 1, aims for $10 billion in bilateral non-oil trade within five years.

Under Cepa terms, more than 80 percent of UAE exports to Indonesia will be exempt from customs duties.

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