Decide To Postpone IPO, Accelerator Continues To Strengthen Existing Business

Illustration of the Indonesian capital market (Photo: Doc. Antara)

JAKARTA - PT Acceleration Business Indonesia Tbk (AKSL) has decided to postpone its listing of funding (IPO) on the Indonesia Stock Exchange which is planned to be held on August 8, 2023.

Accelerator Ivan Nikolas Tambunan said the postponement of the IPO was due to market conditions, so it took a longer time to get the right strategic investors who could support the company in the future.

"Therefore, the company decided to postpone the IPO for a while. Maybe next year's June," said Ivan.

With the postponement of the IPO, Ivan explained that his party has also postponed the acquisition of multifinance, but will continue to strengthen business existence and will continue to run a joint funding service business or marketplace lending or peer-to-peer lending.

"We will continue to strengthen our business by peer to lending, we will also strengthen lending. Funding for funding is also increasing and we will continue to reduce NPL," added Ivan.

By the end of June 2023, the company had disbursed IDR 1.44 trillion in loans, an increase of 22 percent on an annual basis compared to the same period last year.

"Our NPL level is also maintained stably, with the NPL level of 0.66 percent of the outstanding loan as of the end of June 2023, one of the lowest in Indonesia," Ivan continued.

The company will also continue the company's plans and targets to generate net profit no later than the fourth quarter of 2023, with efforts to increase revenue and operational spending efficiency.

"This will strengthen the financial performance and sustainability of the Accelerator Group's business in the long term," concluded Ivan.

Previously, it was reported that AKSL would use its IPO proceeds for the development or expansion of the company's business, including around Rp36.5 billion, which the company used to acquire 99.99 percent of shares of the multifinance company PT Pratama Interdana Finance (PIF), then around Rp200 billion of which would be channeled to additional capital deposits to PIF in equity. The rest will be used for working capital.