A Subsidiary Of The Bakrie Conglomerate Company In Electric Vehicle Business, Mau IPO, In November 2022

Photo: Doc. Antara

JAKARTA - A subsidiary of PT Bakrie & Brothers Tbk (BNBR) who focuses on working on electric vehicles (EV), namely PT VKTR of Mobility Technology (VKTR) will be listed on the Indonesia Stock Exchange (IDX) by conducting an initial public offering (IPO) share in mid-November 2022. This was emphasized by Bakrie & Brothers Bayu Nimpuno's Head of Corporate Communication in his explanation to the media, quoted Wednesday, September 7. Even so, the target funds and the number of shares to be released to the public are still being calculated. As is known, VKTR has a vision of becoming a leading electric vehicle (EV) provider in Indonesia, by providing universal access to quality and affordable electric vehicles in Indonesia. Recently, VKTR together with PT Industri Kereta Api (Persero) or INKA, agreed to build a strategic alliance to realize the dream of building an electric-based transportation ecosystem in Indonesia. The memorandum of understanding (MoU) between the two parties was signed by the President Director of PT INKA Budi Noviantoro and VKTR President Director Gilarsi W Setijono, in Madiun, East Java on Monday 29 August. President Commissioner of VKTR Anindya Novyan Bakrie who was present to witness the signing in person said this strategic collaboration was in line with the Bakrie Group's business strategy in the future. As I have said before, our future business development will have a lot to do with industrial and green energy electrification. Today's efforts are part of that strategy, and will certainly help ease our steps in the future," said Anindya. VKTR is indeed spurring cooperation with many parties, as one of the strategies to build a complete and strong electrification industry ecosystem from upstream to downstream. "In addition to BYD Auto and local caroseri company Tri Sakti, through VKTR, we have invested and collaborated with UK retrofit and heavy mobility technology company Equipmake and environmentally friendly battery manufacturer BritishVolt, as well as from England. On the other hand, VKTR has also signed a deal with several battery raw material supplier companies, including regional companies,&rdquo said Anindya. He emphasized that the company's voting for sustainable business, which was marked by the development of the electric vehicle industry, was confirmed by the VKTR stock IPO plan. "God willing, we can implement the VKTR IPO by the end of 2022. With this step, it is hoped that the VKTR valuation can grow rapidly and the potential for the company's development will be even wider," explained Anindya.