IPO, M Cash Targets Fresh Fund Rp 314 Billion

By : Ahmad Fadli Dan Aldo Bella Putra | Friday, October 06 2017 - 18:30 IWST

PT M Cash Integrasi Tbk akan melakukan penawaran umum saham perdananya di Bursa Efek Indonesia pada 31 Oktober 2017 (Dok: INDUSTRY.co.id)
PT M Cash Integrasi Tbk akan melakukan penawaran umum saham perdananya di Bursa Efek Indonesia pada 31 Oktober 2017 (Dok: INDUSTRY.co.id)

INDUSTRY.co.id - Jakarta - PT M Cash Integration Tbk will conduct its initial public offering on the Indonesia Stock Exchange on October 31, 2017. In this initial public offering, the company offers up to 216.9 million new shares or equivalent to 25 percent of paid up capital, with IPO prices ranging between Rp 1,300 / share up to Rp 1,450 / share.

The Company has also appointed PT Kresna Sekuritas and PT Trimegah Sekuritas Indonesia Tbk as the underwriters of the IPO's main securities issuers.

"We are targeting fresh funds from the IPO of about Rp 282 billion to Rp 314 billion," said MCI President Martin Suharlie in publilknya exposure in Jakarta, Friday (6/10/2017).

He explained that the IPO fund will be used for expansion and working capital. MCI will expand digital kiosks in traditional markets with 80 percent composition and the rest are modern channels. "This year 1,000 stalls and 10,000 kiosks by 2020," he concluded

It believes that the price offered will attract investors. This is evident from the road show conducted by MCI in Hong Kong, Singapore and Jakarta and to date the demand has reached 7.2 times that offered.

Meanwhile, Michael Steven, MCI's President Commissioner stated that MCI is able to present a simple technology but can provide a great social impact because it can meet the needs of unbanked population which reaches 80 percent of the total population of Indonesia.

"This IPO is the first step of the company to realize its vision as digital distribution champion in Indonesia," he said

For information, MCI developed a first digital kiosk in Indonesia, capable of issuing various types of physical cards, including mobile SIM and e-money with registration automatically, without the need to use banking accounts.

News Comment

Today's Industry

Fuse, The insurtech companies

Jumat, 26 November 2021 - 16:11 WIB

FUSE Being The Only Insurtech From Indonesia Included In "The World's Top 100 Insurtech 2021"

Sønr Global, the world's leading market intelligence platform designed specifically for the insurance industry, along with leading consultant Ernst & Young (EY), have just released the World's…

PT Dharma Polimetal Tbk's advanced robot technology to produce electric vehicle components

Jumat, 26 November 2021 - 15:00 WIB

Ahead of IPO, DRMA Stimulates Electric Vehicle Component Business Opportunities in Indonesia

PT Dharma Polimetal Tbk (“DRMA”), an automotive component manufacturing company belonging to the Triputra Group which is planning to conduct an Initial Public Offering (IPO) at the end of…

Dr Maria Corlianò Co-Founder and Chief Technology Officer, OSbiome

Jumat, 26 November 2021 - 14:10 WIB

OSBIOME: Personalised Self-Care Platform For Optimum Health Management Through The Gut

Discussing gut issues such as bloating, diarrhoea and constipation with your partner, family or close friends can be embarrassing and disheartening. Many also tend to shrug off the pain and…

Citi Indonesia CEO, Batara Sianturi

Jumat, 26 November 2021 - 13:25 WIB

Citi Indonesia Posted Rp869 Billion in Net Income during Third Quarter of 2021

Citibank N.A., Indonesia (Citi Indonesia) posted a Net Income of Rp869 billion during the third quarter of 2021. The earning is lower than the same period last year, driven by lower trading…

Cybersecurity Jobs. PHOTO: Cybercrime Magazine.

Rabu, 24 November 2021 - 21:00 WIB

What vulnerabilities and security issues plague web and mobile apps?

One of the most compelling reasons organisations use third-party application security testing is to extend their own software security testing capability when circumstances make adding new resources…