JAKARTA - The property developer integrated with mass transportation, PT Adhi Commuter Properti Tbk, has officially obtained an effective statement from the Financial Services Authority (OJK) to release shares with an initial public offering (IPO) mechanism.
Adhi Commuter shares with the ADCP code at a price of IDR 130 per share can be purchased today (Wednesday, 16 February) until 21 February 2022.
President Director of Adhi Commuter Rizkan Firman explained, this effective statement shows the company's IPO process is ongoing, so it is targeted to go on the stock exchange at the end of this month.
"We ensure that ADCP shares will be attractive to investors as our business fundamentals are positive with potential that will continue to grow, given the business concept that we carry, namely the Transit Oriented Development (TOD) concept property that attaches to public transportation nodes, especially Light Rapid Transit trains. (LRT) Jabodebek," Rizkan said in his official statement.
On the same occasion, Corporate Secretary of PT Adhi Commuter Properti (ADCP) Adi Sampurno said he was optimistic that the ADCP IPO plan at the beginning of this year would attract investors considering the company's business fundamentals which have the potential to continue to grow supported by a number of factors.
These supporting factors include: the LRT which will start operating this year, which will add value to the Adhi Commuter projects with the TOD concept, which is integrated with the LRT station equipped with supporting urban lifestyle facilities that will facilitate mobility.
The company will also get fresh funds through the IPO which can be used to develop its business portfolio.
"This is an opportunity for investors who will buy ADCP shares at a low price. As the LRT starts operating, and the construction of various property projects is completed, plus the company also has various recurring projects, there is a potential for ADCP share price to increase in the future," he said. Adi.
In addition, he continued, strong support from the parent company, namely Adhi Karya, also helped support the stronger ADCP business. Support from various sides, both from the financial side through loan or funding facilities, as well as from other aspects such as bridging ADCP cooperation with various other parties such as with Telkom which was recently carried out.
With a price of IDR 130 per share and 2.22 billion shares issued or equivalent to 10 percent of the total issued and paid-up capital. Thus, the company has the potential to reap funds of IDR 288.89 billion.
Along with this IPO, Adhi Commuter held a Management and Employee Stock Option Program (MESOP) for a maximum of 2 percent of the total issued and fully paid capital. This program is a form of appreciation for the achievement of employee performance.
Director of CIMB Niaga Sekuritas I Wayan Gemuh Kertaraharja added, after entering the public offering period from February 16-21, the IPO process continued with allotment on February 21, 2022, and the initial listing of shares on the Indonesia Stock Exchange on February 23, 2022.
"We are optimistic that the ADCP IPO will run smoothly considering that the stages have been passed. As one of the implementing underwriters for the issuance of securities, we also oversee the success of the IPO of the company carrying the TOD property concept," said Wayan.
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