
Chandra Asri Is Said to Seek $1 Billion Valuation for Unit's IPO
Chandra Asri Pacific's infrastructure investment unit is seeking a valuation of at least $1 billion in its planned initial public offering in Indonesia, according to people familiar with the matter.
The unit, Chandra Daya Investasi, aims to raise $100 million or more in a listing that could take place in the coming months, the people said, asking not to be identified because the information is private.
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You need a high return on investment Like any other investment, you want it to be worth as much as possible at the time you are ready to sell it. This path most typically involves buying a business at a low price, increasing its value over the next 5-10 years through increased sales and marketing efforts or other margin enhancement techniques, and then selling it for a much higher value down the road. That higher value typically comes from two sources: the higher profits of the bigger business and the higher sale multiple of earnings, as bigger companies are typically sold at higher sale multiples than smaller companies. But the intent here is to buy and sell the business — that is the intent from day one. It may or may not require you to raise outside capital to assist you with the purchase or your scaling efforts. If all goes well, you sell the business at 5x-10x the price you purchased it, and that is when you get your "big payday" as a shareholder. Related: Is Acquiring a Business Right For You? Here's How to Know If You Should Buy a Business or Start From Scratch 2. You need current recurring cash flow In this category, it is less about growing a business and more about "milking it" for recurring cash flow from whatever size the business is today. Here, it is less about shooting for the highest long-term ROI possible and more about driving the highest near-term annual return on invested capital. These investments can be things like buying a car wash, a strip mall to rent or a restaurant franchise where you are hoping to drive 10-20% annual returns on your investment. This is basically a more hands-on alternative to investing in the stock market or other more traditional investment vehicles. It may or may not require an investor partner, like a family office, that is also looking for current recurring cash flow. This path is preferred if you need current cash and are not planning to reinvest annual profits into the future growth of the business, as you were doing in the first category. 3. You are creating a family legacy In this category, there is simply one goal: owning and operating a family-run business that you can hand off to future generations. It could come in the form of either of the first two categories above, with one primary difference: you would not want to take any outside investors, as they will require an exit strategy down the road and may require you to sell the company to achieve that goal, which defeats of the whole purpose of ending up with a business you can hand off to your family members. The other major difference here is that now there may be multiple opinions around the family dinner table in terms of what types of business they would enjoy operating. So be sure to toss around those mutually acceptable ideas as a group, before you get started, so there are high odds the next generation will enjoy working in the business and will want to take it over when the older generation retires. Related: 5 Factors You Must Consider When Buying an Existing Business 4. You need passive income Another type of business you can buy is one that comes with very little work required by buyers in terms of operating the company. Businesses that basically "run themselves". This could be things like buying a parking garage, or a business that places vending machines in retail locations, or a business that comes with a general manager who will be doing the majority of the work. So, as you are assessing which business to buy, figure out how much time you want to personally be investing in it, as there is a wide range from 5 hours a week to 50+ hours a week, depending on which business you end up buying. 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Make sure you are 100% clear on the reasons you are buying a business, and incorporate the learnings above during your evaluation process, to prevent you from getting into a situation where you did not fully understand the consequences when you started. Good luck and happy hunting!


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2 hours ago
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