With The Blessing Of OJK, This Automotive Company Owned By Conglomerate TP Rachmat Wants To Focus On Buying And Selling Used Vehicles After Raising IDR 703.59 Billion From An IPO

JAKARTA - A company from the Adi Sarana Armada group belonging to conglomerate TP Rachmat, PT Autopedia Sukses Lestari Tbk (ASLC) will conduct an Initial Public Offering (IPO). Autopedia has obtained permission from OJK as of December 28, 2021.

This prospective issuer is engaged in the automotive sector, starting from car and motorcycle auctions, buying and selling cars online, and providing data on car and motorcycle prices, which captures opportunities from the prospect of the used vehicle business. President Director of Autopedia Sukses Lestari, Jany Candra said the IPO step was a commitment to developing an integrated used car buying and selling ecosystem.

In the IPO process, Autopedia will release 20 percent of the issued capital. Based on the Abridged Prospectus that has been issued, Autopedia offers a maximum of 2,549,271,000 shares or 20 percent of the issued and fully paid capital after the Initial Public Offering at an offering price of Rp200 to Rp276 per share.

Thus, the funds that will be collected are between Rp. 509.85 billion to Rp. 703.59 billion. Most of the funds obtained will be used for the operation of new business activities that will begin to operate fully in early 2022, namely the business of buying and selling used vehicles, both online and offline.

Along with these efforts, the company will also expand its network and increase used vehicle inventories in an effort to provide a more varied choice of locations that are more affordable and transaction convenience for potential consumers.

For now, the company is still focused on developing existing businesses and strengthening the company's fundamentals by making digital-based technological innovations.

"For next year's business plan, it is hoped that the company will continue to maximize digital transformation efforts to create a digital-based automotive ecosystem that is integrated with the latest technology," said Jany, quoted Tuesday, January 4.

According to him, the IPO is an important achievement for the company because this moment will be the main foundation for developing an O2O business model for buying and selling used vehicles by transforming technology and digitizing automotive auctions, as well as creating a more integrated used car buying and selling ecosystem.

Furthermore, Jany added that the decision to conduct an IPO is currently part of the company's strategy to capture the fragmented used vehicle business opportunity in Indonesia.

The Company is here to develop a platform for both the auction business and the buying and selling of used vehicles for sellers and buyers through the JBA Indonesia and Caroline.id platforms.

In addition, Autopedia has also developed Cartalog, an engine pricing platform that uses revolutionary artificial intelligence technology to provide fair prices to all players in the automotive industry.