Robin Ong Eng Jin: New YUPI Owner After IPO
Yupi Indo Jelly Gum IPO: A Sweet Transition with New Ownership
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Published: 2025-03-07
Yupi Gears Up for IPO on the Indonesia Stock Exchange
Jakarta, Indonesia – PT Yupi Indo Jelly Gum Tbk (YUPI), a renowned gummy candy maker, is set to debut on the Indonesia Stock Exchange (BEI). This Initial Public Offering (IPO) marks a significant shift, as the company will transition to new ownership following the IPO.
Current Ownership Structure
Currently, YUPI is primarily owned by PT Sweet Indonesia Tbk (PTSI) and Daniel Budiman.PTSI holds a controlling stake of 89.90%, while daniel Budiman possesses 0.01%. Together, they represent 90% ownership of YUPI’s shares.
Details of the IPO
The YUPI IPO primarily consists of divested shares, meaning the proceeds from this corporate action will largely benefit the controlling shareholders rather than being reinvested into the company. A total of 10% of shares are being offered to the public. This includes 3% in new shares, expected to raise up to Rp640.83 billion, and 7% in divested shares from controlling shareholders, potentially generating Rp1.49 trillion.
Change in Control after IPO
One of the most noteworthy aspects of the YUPI IPO is the impending change in the company’s ownership structure once it is listed on the BEI.
The existing controlling shareholders, PTSI and Daniel Budiman, are expected to sell their entire stake to PT Confectionery Consumer Products Indonesia (CCPI).
following the IPO, CCPI will become the controlling shareholder with 90% of the shares, while the remaining 10% will be held by the public as free float.
Robin Ong Eng Jin Takes Control
The change in company control occurs after robin Ong eng Jin acquired the company through PT Confectionery Consumer Products Indonesia (CCPI), as per the Statement Letter dated February 24, 2025. With the acquisition complete, Robin Ong Eng Jin will have the authority to control PT CCPI. This acquisition is part of a broader expansion strategy in the snack food sector in Asia.
According to the company’s IPO prospectus, “PT CCPI states Robin Ong Eng Jin as the beneficial owner of PT CCPI based on Presidential Regulation No.13/2018,” as quoted on Friday, March 7, 2025.
Affinity Equity Partners’ Role
PT CCPI operates as a holding company. It is indirectly owned by Confectionery Products (Holdings) Limited (CPHL), based in the Cayman Islands. As of February 10, 2025, Affinity Fund, consisting of APF V and APF V2, holds 98% of CPHL shares, with 59% and 39% respectively. Affinity Fund is an investment company owned by Affinity Equity partners.
This structure positions Affinity Fund as the primary beneficiary of YUPI through the ownership chain in CPHL and PT CCPI.
Affinity’s Acquisition
According to a previous report from Reuters on November 26, 2024, Affinity’s acquisition of a majority stake in YUPI was valued at US$1.2 billion.
Affinity Equity Partners’ Background
Affinity Equity Partners has been investing in private equity in asia since 1998. The company manages assets worth US$14 billion in the Asia Pacific region, with a portfolio of 58 investments across 11 countries.
Yupi Indo jelly Gum IPO: Your Questions Answered
Yupi’s IPO and ownership Transition
What is happening with Yupi Indo jelly Gum?
PT Yupi Indo Jelly Gum Tbk (YUPI) is undergoing an Initial Public Offering (IPO) on the Indonesia Stock Exchange (BEI). This IPO signifies a significant change in the company’s ownership structure
.
Who are the current owners of Yupi?
Prior to the IPO, YUPI was primarily owned by:
PT Sweet Indonesia Tbk (PTSI): 89.90% stake
Daniel Budiman: 0.01% stake
These two entities collectively held 90% of YUPI’s shares.
what is the Yupi IPO about?
The YUPI IPO involves offering 10% of the company’s shares to the public. This offering consists of both:
New Shares (3%): Aiming to raise up to Rp640.83 billion.
Divested Shares (7%): From controlling shareholders, potentially generating Rp1.49 trillion. The IPO primarily involves divested shares, meaning that the proceeds will largely benefit the current controlling shareholders.
Why is Yupi doing an IPO?
according to the article “[2]”, Yupi plans to raise as much as Rp 2.13 trillion (US$136 million) through an initial public offering (IPO) to fund a new manufacturing.
What is the Yupi IPO date?
The article publish date is 2025-03-07.
New Ownership and Control
Following the IPO, PT Confectionery Consumer Products Indonesia (CCPI) will become the controlling shareholder, owning 90% of YUPI’s shares. The remaining 10% will be available to the public as a free float.
Who is Robin Ong Eng Jin and what is his role?
Robin Ong Eng Jin is the individual who acquired control of YUPI through PT Confectionery Consumer Products Indonesia (CCPI). He has the authority to control PT CCPI, making him a key figure in YUPI’s future direction.This acquisition is part of a broader strategy to expand in the Asian snack food sector.
What law makes Robin ong eng Jin the beneficial owner of PT CCPI?
Robin Ong Eng Jin is the beneficial owner of PT CCPI based on presidential Regulation No.13/2018.
What is Affinity Equity Partners’ involvement?
Affinity Equity Partners plays a significant role through its investment in Confectionery Products (Holdings) Limited (CPHL), which indirectly owns