Automotive Company Owned By Conglomerate TP Rachmat Officially Takes Floor On IDX, Raises IDR 652 Billion In Funds

Illustration. (Photo: Doc. Autopedia Sukses Lestari)

JAKARTA - PT Autopedia Sukses Lestari Tbk (ASLC), a company engaged in the automotive sector, ranging from car and motorcycle auctions, online car buying and selling, and a provider of car and motorcycle price data, officially listed its shares on the Indonesia Stock Exchange (IDX) on Friday. today, Tuesday, January 25 with an offer price of IDR 256.

Through the initial listing of shares, the company owned by conglomerate TP Rachmat hopes to develop technology, as well as expand the network and increase the inventory of used vehicles that are currently owned. In addition, ASLC will also develop the automotive marketplace Caroline.id by utilizing the O2O (Online-to-Offline) business model. This is in order to provide more varied choices, and more affordable locations as well as transaction convenience for potential consumers.

ASLC's President Director, Jany Candra said, this momentum is the right time for his party to develop new business models to capture bigger market opportunities.

"We are also developing a startup business for used vehicles, namely Caroline and Cartalog. Where Caroline will focus on O2O (Online-to-offline) used car dealers, while Cartalog is an application for price engines, and listings for buying and selling motor vehicles. We will also develop it into an inspection service," he said.

As a solution provider for used car needs, Caroline.id comes in two types, namely Caroline Selection which is a solution for customers who want to buy a used car, and Caroline Purchase, which is a solution for customers who want to sell cars, where the majority or around 80 percent People who want to buy a new car have to sell their car.

Supported by synergies from all business lines and subsidiaries, the Company is optimistic that it can continue to achieve better performance in the following years.

Jany continued, in line with the business strategy that is being carried out as well as the innovation that continues to be developed, ASLC is optimistic that it can achieve its performance target in 2022. As an illustration, the company has recorded sales of approximately 100 thousand vehicles until the end of 2021 despite the pandemic conditions and economic conditions that are still hampered by PPKM.

"For 2022, we are still optimistic that we can achieve a better growth target compared to the previous year. This is also supported by the auction capability of PT JBA Indonesia, where by the end of 2021 it is estimated that almost 200 thousand used cars and motorcycles have been auctioned. with more than 220 thousand bidders per year throughout Indonesia," he said.

Just so you know, through this IPO the company offers as much as 20 percent of the issued capital, and will get fresh funds worth Rp652.6 billion. Where, as much as 64.7 percent of the funds will be used for working capital in connection with the company's new business in the sale and purchase of used vehicles.

Meanwhile, the remaining 35.3 percent will be used to pay off all loans to the Parent Entity, which is Rp. 225 billion.