Listing on August 27th, Transkon Jaya (TRJA) to Secure IPO Funds of IDR 93.75 Billion


16 Aug 2020


Dilansir Oleh


JAKARTA, – Indonesia Stock Exchange (IDX) is set to welcome a new issuer. PT Transkon Jaya Tbk is currently conducting a public offering from Friday (14/8) until August 18-19, 2020.

Transkon Jaya obtained the effective statement for the initial public offering (IPO) from the Financial Services Authority on August 12th. The prospective issuer, using the stock code TRJA, will release a maximum of 375 million new shares to the public with a nominal value of IDR 100 per share.

Transkon has set the offering price at IDR 250 per share. With this pricing, Transkon Jaya is expected to generate fresh funds of IDR 93.75 billion.

The total shares offered represent 24.83% of Transkon Jaya’s issued and paid-up capital after the IPO. The largest shareholder of TRJA is PT Damai Investama Sukses, whose ownership will decrease from 60% to 45.10% after the IPO, and PT MSJ Investama Abadi, which will reduce its ownership from 40% to 30.07%.

UOB Kay Hian Sekuritas is the underwriter for Transkon Jaya’s IPO. The IPO allocation date is set for August 25, with electronic share distribution on August 26, 2020.

Transkon Jaya is scheduled to list its shares on the Indonesia Stock Exchange on August 27, 2020. Until last week, there have been 35 new issuers listed on the IDX since the beginning of the year.

According to Transkon Jaya’s IPO prospectus, the company, engaged in vehicle rental and internet network services, will use 70% of the IPO funds for business development, specifically as down payments for the purchase of new vehicles to be rented according to business activities. TRJA will allocate 30% of the IPO funds for working capital, including the purchase of spare parts, tires, and oil.

In 2019, Transkon Jaya recorded revenue of IDR 401.34 billion, a 23.08% increase compared to the previous year’s IDR 326.09 billion. TRJA achieved a net profit of IDR 30.56 billion, up 9.73% annually.

The total assets of this prospective issuer reached IDR 545.15 billion at the end of 2019. TRJA’s total liabilities amounted to IDR 395.43 billion, with equity at IDR 149.72 billion.

Source: [Investasi Kontan](