Officially Listed On The Stock Exchange, VISI Shares Strengthen To Level Rp124 Per Sheet

JAKARTA A company engaged in trading for advertising and printing materials such as Banner, Tinta and PVC Board, namely PT Satu Visi Putra Tbk (VISI) officially listed its initial shares on the Indonesia Stock Exchange (IDX) on Tuesday, February 27, 2024.

In the first trade, VISI shares rose 3.33 percent to a price position of IDR 124 per share at 09.05 WIB.

In the Initial Public Offering or Initial Public Offering (IPO), the company offered as many as 615 million shares or as much as 20.00 percent of the issued and fully paid capital after the IPO, so that the company managed to achieve IPO funds of IDR 73.80 billion.

During the public offering period, based on the e-IPO system, the company recorded an oversubscribed excess of around 210.07 times.

The number of VISI shares is 30,235 parties spread from 34 provinces in Indonesia and from 9 foreign countries.

Orders are dominated by 30,219 individual investors, while the remaining 16 institutional investors.

This shows investor confidence in the company's condition.

The acting guarantor for the issuance of securities is PT Surya Fajar Sekuritas.

The company also held the ESA program with a total of 1 percent of the shares offered in this Initial Public Offering or as many as 6,150,000.

President Director of PT Satu Visi Putra Tbk David Dwiputra said the VISI IPO will strengthen and expand the company's reach so that it can reach unpaired markets.

The VISION IPO step is an important decision for the Company to continue to grow sustainably. We hope to grow the size VISI business in this industry, as a provider of advertising and printing materials," explained David Tuesday, February 27, 2024.

David added, of course, with stable demand, significant revenue contribution and supported by potential in the field of Advertising and Printing, the company's business prospects are very promising and bright in the future.

Meanwhile, President Director Surya Fajar Sekuritas Steffen Fang explained that the success of the VISI IPO was supported by bright business prospects.

The existence of excess demand during public offerings is also a reflection of the investor's confidence in the company's condition, as well as confidence in the potential for business growth in the future.

"The existence of oversubscribed shows that investors believe in a large market potential, especially fundamentally and the IPO price valuation is quite attractive and affordable," said Steffen.

The IPO funds of around 3.49 percent will be used for the purchase of fleets and the rest will be used for working capital, namely for the purchase of trading goods in the form of banners.