Transkon Jaya Plans to Release 375 Million Shares in IPO


24 Jul 2020


Dilansir Oleh

Bagikan, BALIKPAPAN – PT Transkon Jaya, a vehicle rental company, will list its shares on the Indonesia Stock Exchange in September. In doing so, Transkon will become the first public company in East Kalimantan. The company plans to release 375 million shares, equivalent to around 24.83 percent of its total shares. The offered price per share is set between Rp200 to Rp300. From this initial public offering (IPO), Transkon is expected to raise a maximum of Rp112.5 billion. During a public expose event, Transkon’s CEO, Lexi Roland Rompas, stated that the funds obtained from the IPO will be used for business development, with 70 percent allocated for the purchase of new vehicles and the remainder for working capital.

“It is expected that by becoming a public company, the company can expand its customer network, not only focusing on the Kalimantan region but also venturing into other potential regions outside of Kalimantan to increase market share,” he explained during a virtual meeting on Friday (24/7/2020).

Transkon Jaya is a light vehicle rental company in mining areas with business activities primarily serving coal mining companies. Additionally, the company is involved in providing internet network services targeting remote areas in Kalimantan. Its market includes corporate sectors such as plantation and retail companies, as well as residential areas. The Company Secretary of Transkon, Alexander Syauta, explained that the company’s performance in both vehicle rental and internet services has consistently increased over the past three years. In 2017, the revenue from vehicle rental was Rp227.6 billion, and internet services amounted to Rp5.9 billion. The following year, both figures increased to Rp317.9 billion for vehicle rental and Rp8.1 billion for internet services. Similarly, last year recorded Rp389.8 billion in vehicle rental revenue and Rp11.7 billion in network services. “The prospects for our business activities in the future are influenced by three factors: the relocation of the national capital to East Kalimantan, national energy planning, and the biodiesel usage program,” he explained.

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