JAKARTA, NNC – PT Artajasa Pembayaran Elektronis Tbk plans to conduct initial public offering (IPO). The temporary price to be offered to the public is around IDR850 to IDR1,250 per share.
ATM Bersama network management company releases as many as 437,505,800 shares, equivalent to 20 percent of the total paid up capital of the company.
"The IPO plan is a corporate strategy to support the implementation of the Gateway Payment National (GPN). We are optimistic that our shares will be attractive to investors because of the prospects of payment system industry in Indonesia," said Artemasa President Director Bayu Hanantasena in Jakarta on Thursday (3/1/ 2018).
With the offering price, the company has the potential to raise approximately IDR371.8 billion to IDR546.8 billion.
Bayu explained, the plan of 60 percent of the funds will be used to buy equipment and information technology equipment. The remaining 40 percent will be used to strengthen working capital.
The effective statement of the Financial Services Authority (OJK) is expected to be published on March 22, 2018 and the period of public offering on March 23 to 26, 2018. Listing of shares on the Indonesia Stock Exchange (BEl) is planned on March 29, 2018.
The company appointed PT Indo Premier Securities as underwriter and PT CLSA Sekuritas Indonesia as the main underwriter.
During the period of 2014-2016 Artajasa managed to record net income from IDR409.72 billion to IDR489.82 billion. With the profit growth, the compound annual growth rate (CAGR) of the company is around 9.3 percent.
This growth was also accompanied by a growth in current profit from IDR121.75 billion to IDR156.87 billion with CAGR of 135 percent.
Artajasa is a company affiliated with PT Indosat Tbk. Artajasa's holding company, PT Aplikasinusa Lintasarta is owned by Indosat with 72.36 percent. Meanwhile, Aplikasinusa ownership in Artajasa reached 55 percent.