JAKARTA - PT Lini Imaji Kreasi Ekosistem Tbk ( FUTR) officially listed its initial shares on the Indonesia Stock Exchange (IDX). However, at the beginning of trading fell.
Quoting Antara, Monday, February 27, at 09.01 WIB, FUTR's share price fell 5 percent to Rp95 from an offering price of Rp100 per share.
FUTR shares are at the highest level of IDR 97 per share and the lowest level is IDR 93 per share. The total trading frequency is 2.434 times with a trading volume of 139.38 million shares and a daily transaction value of IDR 13.06 billion.
FUTR President Director Jeremy Quek explained that the company offered 20 percent of the total shares recorded to the public or 1.27 billion shares with an offering price of IDR 100 per share.
In this Initial Public Offering (IPO), the company received funds of IDR 127.8 billion, and experienced an oversubscribed demand of 45 times, with a total shareholder of more than 18 thousand investors.
Simultaneously, the company issued a warrant where every five-share holder offered is entitled to four Series I Warrants.
Furthermore, Jeremy explained that the company is trying to maintain and advance operations in Asia Pacific, which currently has business operations in Indonesia, Malaysia and Singapore.
"The company is optimistic about the implementation of business operations expansion to Thailand, the Philippines, Vietnam and Hong Kong in the next two years," Jeremy said.
With more than 200 million user engagements from more than 25 million user bases and global strategic partner networks, according to him, FUTR can help clients improve their business performance by adapting global standards to local apps.
He said most of the IPO funds would be used to develop platforms and products, develop data research and analysis, develop Human Resources (HR), strengthen marketing and other operational support.
In addition, the company will build a Creativ Group' to support creative people in various locations in Indonesia in accessing international markets through the utilization of their design, coding, multimedia, digital marketing, animation, and live streaming e-commerce skills.
"We believe in our ongoing efforts to stay ahead and integrate up-to-date technologies such as AI, Decentralized Economics, Web 3, and Metaverse, which will help our clients maintain and develop their business", Jeremy said.
For information, the potential of the digital economy and creative industry in Indonesia is estimated to reach IDR 4,608 trillion by 2030.
Meanwhile, Asia Pacific's market potential for Big Data Analytics, Social Commerce, Immersive Tech, and Cyber Governance is estimated to reach $511 billion in the next two years.
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