PT Tiga Pilar Sejahtera Food Tbk (JKSE:AISA) is weighing up options for its subsidiary to undertake an initial public offering this December, an official from the company said. TPS Food derives revenues from two units: food and rice. The company's rice business unit is run by PT Dunia Pangan. "We're planning for Dunia Pangan to go public by the end of this year," Tiga Pilar Sejahtera financial coordinator Sjambiri Lioe told reporters. TPS Food is seeking to raise IDR 400 billion from the IPO and plans to sell 20% of its enlarged capital after IPO. The company will use its June financial report for the IPO, Sjambiri said. Dunia Pangan plans to use proceeds from the IPO to shore up its working capital.