Indomobil Multi Jasa Offers 1.29 Billion IPO Shares

15 February 2018 Written by 

TEMPO.CO, Jakarta - PT Indomobil Multi Jasa Tbk, Monday, 11 November 2013, conduct an initial public offering. The offer is made through two subsidiaries, namely PT Indomobil Finance Indonesia (IMFI) and PT CSM Corporatama (Indorent).

President Director of PT Indomobil Multi Jasa, Jusak Kertowidjojo, said the company sold 10 to 25 percent of the shares. "The initial price is around Rp 500 to Rp 650 per share," said Jusak at The Ritz-Carlton, Pacific Place, Jakarta, Monday, 11 November 2013.

The number of shares offered to the public is the amount of 1.29 billion shares. According to Jusak, the initial public offering period of PT Indomobil Multi Jasa was conducted on 11-19 November 2013. "We are targeting to be listed in the stock exchange on 5 December 2013."

The fund raised from initial offering shall be used for business development and working capital of a subsidiary amounting to 60 percent. Two thirds of the 60 percent shall be used by Indorent, while one-third will be used by IMFI. The remaining 40 percent shall be used to pay Indorent loans.

Jusak said the five companies were appointed as underwriters namely PT CIMB Securities Indonesia, PT Deutsche Securities Indonesia, PT DBS Vickers Securities Indonesia, PT Kresna Graha Sekurindo Tbk and PT Buana Capital.

PT Indomobil Multi Jasa Tbk is a subsidiary of PT Indomobil Sukses International. Indomobil Multi Jasa is engaged in consumer financing services through IMFI as well as car rental services through Indorent. IMFI itself serves the financing of two-wheeled vehicles, four wheels, and heavy equipment. As of 30 June 2013, the company claims to have as many as 212 service points. Meanwhile, Indorent has 16 service points with a total fleet of 8.363 units.

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