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JAKARTA, KOMPAS.com – An automotive company, PT Autopedia Sukses Lestari Tbk (ASLC) listed its shares through an initial public offering (IPO), Tuesday (25/1/2022).

Based on the company's prospectus, this automotive company will release a maximum of 2.54 billion ordinary shares in the name, or as much as 20 percent of the Company's issued and paid-up capital after the Initial Public Offering.

The price set by ASLC is IDR 256 per share. With this nominal, ASLC has the opportunity to get fresh funds from the IPO of IDR 652 billion.

Meanwhile, the details of the planned use of IPO funds, namely, 64.71 percent for working capital include buying and selling used vehicles online and offline.

ASLC has also provided a platform both offline and online to create a more integrated used vehicle buying and selling ecosystem.

Meanwhile, the remaining 35.28 percent of the IPO proceeds will be used to pay off aslc loans to the parent company, PT Adi Sarana Armada Tbk (ASSA) with a principal value of IDR 225 billion. In this IPO, it acts as the underwriter of PT Ciptadana Sekuritas Asia and PT Trimegah Sekuritas Indonesia.

Previously, ASLC President Director Jany Candra said that ASLC's IPO is expected to be able to encourage opportunities for the development of used car market sales in Indonesia. Not to mention, the policy of extending VATBM incentives, which is expected to encourage used car sales, as well as healthy margins.

"We are optimistic that the future business growth opportunities are still very large. This IPO will be a new spirit in developing the used car market in Indonesia which is still very large and has not been well integrated," said Jany last week.