Jakarta, February 6, 2023 – PT Hassana Boga Sejahtera Tbk (the Company), one of the investees of Asiavesta Strategic Investment operating in the baby food industry, has listed its shares on the Indonesia Stock Exchange with the stock code NAYZ. The Company offered 510 million shares, representing 20 percent of total ownership after the initial public offering.
In the process of this initial public offering, the Company has selected PT Surya Fajar Sekuritas as the Underwriter for the Securities Issuance. The public offering period took place from January 31, 2023, to February 2, 2023, and the shares were listed on the Indonesia Stock Exchange (IDX) on February 6, 2023, with an offering price of Rp100 per share. Using the e-IPO system, the Company experienced an oversubscription rate of approximately 31.74 times. This oversubscription reflects investors’ confidence in the Company’s condition and belief in its future growth potential. Through this Initial Public Offering, the Company has raised funds amounting to Rp51,000,000,000 (51 billion Indonesian Rupiah).
The funds obtained from the initial public offering will be used for several purposes, including:
- Approximately Rp4,214,750,000 (four billion two hundred fourteen million seven hundred fifty thousand Indonesian Rupiah) will be used by the Company for capital expenditures, including the payment of land purchases located in Gunung Sindur, Bogor Regency, West Java. This land purchase will be used for factory construction.
- Around Rp30,000,000,000 (thirty billion Indonesian Rupiah) will be used by the Company for capital expenditures, including factory construction, machinery, and equipment purchases for the factory located in Gunung Sindur, Bogor Regency, West Java.
- The remainder will be used by the Company for working capital such as raw material purchases, marketing and promotion, and operational expenses.
Lutfiel Hakim, the CEO of PT Hassana Boga Sejahtera Tbk, stated that after nearly 7 years of collaboration with Indonesian mothers, it is time for NAYZ to reach even more markets and products. “Through the IPO, we want the benefits of this product to truly reach consumers wherever they are, supported by the development of maximum product innovation,” he expressed.
Lutfiel explained that the current birth rate in Indonesia is between 4.8 and 5 million per year, which is a significant factor driving the demand for baby-related products. “We have a unique positioning as a Homemade Complementary Feeding (MPASI) that is also fortified with organic ingredients, providing the necessary micronutrients for babies. Essentially, this product is truly Indonesian, both in terms of raw materials and taste,” Lutfiel clarified.
This vision aligns with the Company’s mission to become the best Indonesian company that inspires human lives with halal, healthy, and balanced food products.
Lutfiel emphasized that NAYZ’s key to success is staying true to its values. “NAYZ has become a value for many busy young mothers who still want to provide healthy food for their children. We facilitate this with a high-value product concept, which is the love and goodness of a mother’s heart, in the form of Homemade Complementary Feeding cooked easily at home by the mother’s own hands,” he explained.
Furthermore, Lutfiel highlighted that NAYZ’s main strength is its 100% locally sourced ingredients, produced by Indonesian farmers. NAYZ promotes a non-instant product concept that requires cooking but in a shorter time. This aligns well with the Indonesian culture where mothers typically enjoy cooking.
The Company’s mission is to create food that is as close as possible to its natural state (pure food), ensure the best and legal quality of food sources and processes, build an industrial environment in harmony with nature, and create organic-based agricultural product innovations.
PT Hassana Boga Sejahtera Tbk has several products specifically designed to provide nutrition for babies in Indonesia. Some of these products include Nayz Bubur MPASI, Nayz Thematic Porridge, Nayz Canned Porridge, Nayz Cereal, Kaldu Nayz, and Nayz Milk Pudding. These products have been certified by reliable institutions such as Good Manufacturing Practices (GMP), Hazard Analysis and Critical Control Points (HACCP), the Indonesian Food and Drug Authority (BPOM), Organic Indonesia, and the Indonesian Ulema Council (Halal MUI).
The flagship product of the Company is NAYZ, a homemade organic and fortified Complementary Feeding suitable for millennial mothers in Indonesia. Made from organic rice and enriched with a mix of green vegetables like broccoli, carrots, beans, and sources of plant and animal protein like fish, chicken, and beef, NAYZ serves as a fundamental Complementary Feeding.
The Company’s industry outlook is unique and promising. By the year 2035, Indonesia’s population is projected to experience significant growth. The population is expected to increase by 67 million people, or 28% from 2010 to 2035.
The population of Indonesia is predicted to continue growing at a rate of 3% to 7% until 2035. This is supported by data from the Central Statistics Agency, which indicates that the total population of Indonesia has been increasing over the past 4 years. The average number of births in Indonesia in 2020 was around 4.79 million. This trend positively impacts the Company’s development and growth of instant baby food interest in Indonesia.
Addressing the issue of Stunting, Lutfiel also mentioned NAYZ’s role in the ongoing stunting program. As a locally sourced baby food product with a 4-star quality rating (carbohydrates, animal protein, plant protein, and fiber), Lutfiel shared experiences related to addressing stunting in children.
“In East Nusa Tenggara, there was a doctor who used NAYZ products to address stunting. The results were remarkable. They even dubbed NAYZ as ‘food from heaven.’ Their children grew healthy, transitioning from malnutrition to undernutrition, and eventually to good nutrition. NAYZ also partnered with an NGO that addresses stunting. The results were impressive, with 6 out of 9 children who regularly consumed NAYZ experiencing significant weight gain,” Lutfiel explained.
Additionally, President Jokowi recently prohibited the use of instant porridge and biscuits to get over stunting, suggesting instead the use of natural porridge and animal protein.