After The IPO, Djaya Karya's Wealth Targets Revenue Of IDR 63 Billion

IPO MEJA (Photo: Aris Nurjani/VOI)

JAKARTA - PT Harta Djaya Karya Tbk (MEJA) officially took the floor on the Indonesia Stock Exchange (IDX), Monday, February 12, 2024. In the first trade, the SEJA shares rose 5.83 percent to a price position of Rp 109 per share at 09.10 WIB.

Meanwhile, the TABLE released a maximum of 480 million shares or 25.03 percent of the paid-up capital after the IPO offered at a public offering price of Rp103 per share. Thus, the TABLE managed to obtain fresh funds of Rp49.44 billion.

Managing Director of the MCH, Richie Adrian Hartanto, said the company is eyeing revenues of IDR 63 billion in 2024.

"Our revenue target this year is IDR 63 billion. However, we believe it is possible that in the second quarter of 2024 it has been achieved," he said when met after the IPO of the TABLE, Monday, February 12.

However, he is optimistic that this year's revenue growth is around 40 percent of total revenue in 2023. However, Richie has not explained the total revenue of the TABLE in 2023.

Meanwhile, Richie said the profit target would grow by about 12 percent of the total revenue earned.

Richie is also committed to distributing dividends to shareholders by a maximum of 35 percent.

"Regarding the dividend distribution that will be given to investors in the long term, of course, our maximum is at the level of 35 percent," he said.

Richie emphasized that the dividend payout ratio (DPR) uses the company's net profit base. Meanwhile, based on the prospectus, management is trying to pay cash dividends to shareholders as much as 50 percent starting in 2024 based on 2023 net profit.

num menambahkan bahwa perseroan kedepannya akan menambah bisnis pada sektor penye supplier sekaligus pemain retail interior, dari sebelumnya fokus pada layanan interior.

"But the main thing is that we use the experience we have lived so that we can know what goods or services we will be able to develop in the future," said Richie.

The plan is that the proceeds from the IPO will be used for several things. Around 72 percent or Rp32.716 billion will be used for the company's working capital, including for the purchase of raw material supplies, contractor costs, interior designs and furniture procurement.

"We will use the capital expenditure budget for the project of around Rp. 30 billion," he explained.

Then around 24 percent or Rp. 10.905 billion will be used for the purchase of fixed assets in the form of work equipment for the project work equipment office and vehicles.

"This IPO will also provide opportunities for the Company to form a closer strategic partnership and penetrate the construction industry market more widely," he said.