Introducing, These are 2 Newcomers Stocks on the Indonesian Stock Exchange

Jakarta, CNBC Indonesia – The Indonesia Stock Exchange (IDX) has two new issuers on Wednesday (30/6/2021). The two are, a company engaged in franchising and real estate agent services, PT ERA Graharealty Tbk (IPAC), and an issuer bank belonging to the Wings Group, PT Bank Multiarta Sentosa Tbk (MASB).

IPAC, the 22nd issuer on the IDX, released 189.97 million ordinary shares on behalf of or as much as 20.00% of the total issued and paid-up capital at a public offering price of Rp 120 per share. Thus, from this IPO, the company received funds of Rp 22.79 billion.

When it debuted on the stock exchange, IPAC’s shares moved up 10% to a level of Rp. 132 per share. IPAC’s current market capitalization value is Rp 125.38 billion.

IPAC President Director, Darmadi Darmawangsa said, this IPO is a milestone for the company to become a public company that is accountable and transparent to all investors, the public and all stakeholders in running the business going forward.

The use of funds obtained from the IPO will be used entirely for working capital related to the company’s operational activities, such as promoting marketing and recruitment programs for new broker and agent members, strengthening the existing ERA brand, recruiting software engineers to manage IT systems more efficiently, providing international standard training. and develop cooperation with developers to market property projects to the public.

Meanwhile, the proceeds from the sale of the divested shares after deducting the issuance costs which are calculated proportionally, will be paid to the selling shareholders.

The company was founded in 1991 and has been in the business of franchising and real estate agent services for more than 29 years. The Company is the holder of the license rights to ERA Indonesia which is a real estate master franchise from the USA which is located in more than 33 countries in the world.

ERA Indonesia is part of ERA Asia Pacific which is currently affiliated with 10 countries in Asia Pacific. ERA Indonesia currently has 109 offices spread across 20 major cities throughout Indonesia.

Meanwhile, PT Bank Multiarta Sentosa Tbk (MASB), which is the 23rd issuer on the IDX, released 186,176,500 shares at a public offering price of Rp 3,360 per share, bringing the total value of the shares offered to Rp. 625.55 billion.

During its initial debut, MASB’s shares were observed to have increased by 25% to the level of Rp 4200 per share, an increase of 840 points after being traded 615 times with a volume of 1.11 million times. The company’s market capitalization value currently stands at Rp 5.21 trillion.

Bank MAS, whose 70% ownership has been controlled by Wings Group since December 2013, received an effective permit from the Financial Services Authority on 22 June 2021, and the public offering conducted on 24-28 June received a positive response from investors.

This IPO was accompanied by the issuance of 1:1 warrants. One share of the IPO gets 1 share of warrant which can be converted into shares from January 2022 to June 2022 at a price of Rp. 3,500 per share.

“The IPO of Bank Mas is a step to strengthen the company’s capital to support the development of the bank in the future and meet the minimum paid-up capital requirement of Rp. 3 trillion,” wrote MASB, in a statement.

This is to comply with the provisions of POJK Number 12/POJK.03/2020 concerning Commercial Bank Consolidation. 85% of the IPO will be used to strengthen capital for credit development and 15% will be used to develop the company’s digital banking services.

In addition to conventional banking products to support the productive commercial sector with special attention to Small and Medium Enterprises, and foreign exchange services to support export, import and international trade; Electronic and digital services have begun to be developed by Bank MAS: including ATM services where Bank MAS provides convenience for Bank Mas customers with Free Cash Withdrawal Fees at ATMs of other banks.

Internet Banking services for corporations and individuals, as well as Mobile Banking services with various features to make it easier for customers to access their funds for transactions anywhere, anytime. Bank Mas provides the convenience of free interbank transfer fees in Indonesia from Bank MAS Mobile Banking.

In the future, in addition to promoting lending to support the productive sector in Indonesia, Bank Mas plans to continue to improve digital banking services.

Starting with Laku Pandai service to support banking inclusiveness through Agent Banking; following QRIS & Virtual Accounts to facilitate payment transactions; Online Onboarding for account opening without having to go to a branch; Online loans at Bank MAS Mobile Banking; and Open Banking API to open collaboration and connectivity with various institutions.

Bank Mas will develop the extensive Group Wings ecosystem through digital banking services. The development of this ecosystem will also be applied to other customer groups to serve companies, supply chains and employees in the ecosystem.

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