OJK Effective Permit Exit, Global Sukses Solusi Ready To Take Floor On IDX Eyeing To Raise IDR 49.98 Billion IPO Funds

Illustration. (Photo: Doc. Antara)

JAKARTA. The Financial Services Authority (OJK) on Tuesday, August 31, gave an effective statement to PT Global Sukses Solusi Tbk to conduct an Initial Public Offering (IPO) of 196,800,000 common shares on behalf of a nominal value of IDR 4.

With the acquisition of the effective permit from the OJK, the company starting today, Thursday, September 2 to September 6, 2021, began conducting an Initial Public Offering for IDR 254 per share. Thus, the Company will receive total proceeds from the IPO amounting to IDR 49.987 billion.

Furthermore, the Company will make an allotment on September 6, 2021, and the date of distribution of shares electronically on September 7, then listing on the Indonesia Stock Exchange (IDX) on September 8, 2021.

President Director of PT Global Sukses Solusi Tbk Sony Rachmadi Purnomo welcomed the issuance of an effective permit from the OJK and expressed his gratitude that soon the company will carve a milestone in 2021, as a public company.

"Soon, we will become a public company, so we have to work even harder to produce a performance that continues to grow and is sustainable for the benefit of shareholders and stakeholders", Sony explained in a written statement.

As a company in a growing industry, PT Global Sukses Solusi Tbk requires a large amount of funding to expand its business, and the capital market is the right financial institution to accommodate startup companies in seeking funding, at a cost that is much cheaper than bank loans.

PT Global Sukses Solusi Tbk will sell shares of approximately 20.01 percent of the company's issued and fully paid capital after the IPO. The Company will also list all of the common shares on behalf of the shareholders before the initial public offering of 786,757,875 shares so that the total number of shares to be listed on the Indonesia Stock Exchange (IDX) is 983,557,875 ordinary shares on behalf of or 100 percent of the fully paid-up capital after this offering.

PT Global Sukses Solusi Tbk has its main business activity in providing integrated Enterprise Resource Planning (ERP) software solutions, from upstream to downstream business processes (integrated end to end user business processes) for all businesses from medium to large scale.

The Company also has four types of products, namely Run System which is ERP software, Run Market which is an enterprise intermediary platform, Run iProbe (HR enterprise solution system), and iKas which is a point of the sales platform.

From the IPO proceeds, after deducting share issuance costs, the company will use 74 IPO funds as working capital, including financing for new projects, overhead and operational costs. The financing for the new project is ERP procurement and ERP-managed service work for the company's customers.

Then, around 11 percent will be used for market acquisition and expansion which aims to expand new segments through the development of iKas products, namely Micro point of Sales. It is intended for SME businesses and can connect ERP customers to SME businesses as well as further development of RUN Market products, namely an ERP platform for the medium business segment.

Currently, the iKas product has been used in five villages to support the smart village program in the archipelago and has been used by traders in the Borobudur Temple Tourism Area. Currently, RUN Market products have been implemented in several iKas implementation places and RUN Market has also collaborated with Telkom and is currently exploring with Bank BNI to support the distribution of the products of the two SOEs.

In the IPO, PT Global Sukses Solusi Tbk has appointed BRI Danareksa and PT Mirae Sekuritas as underwriters for the IT company's share issuance.

Performance

PT Global Sukses Solusi Tbk is a growing IT company with growing performance. The company, which was founded in Yogyakarta in 2014, started its business through its participation in the Indigo Startup Incubator Program organized by Telkom.

Three years later, in 2017, the Company implemented the Run System for the first time in a state-owned company. The company's products continue to grow with the addition of iKas and Run iProbe (HR Cloud Platform) products.

The company's products also have several competitive advantages, namely: First, the products allow for customization and can adapt to customer needs. Second, competitive prices when compared to other similar companies. And third, good-quality after-sales service.

Along with business development as evidenced by the increase in the number of products and the achievement of excellence over these products, the company's operational performance also shows improvement and growth.

This is shown by the performance as of December 2020, where the company's operating income increased by IDR 16,874 billion or an increase of 300.37 percent compared to 2019, from IDR 5,618 billion to IDR 22,492 billion. The increase was mainly due to an increase in sales. RUN System to related parties, namely PT Metranet.

The company's net profit achievement for the year also increased in 2020 to IDR 7,705 billion from IDR 2,067 billion, an increase of 272.73 percent. Likewise, EBITDA jumped from 61.48 percent in 2019 to 387.15 percent in 2020.