Official IPO, EmanyaCloud Shares Soar 35 Percent

Stock movement (Photo: Doc. Antara)

JAKARTA - Through PT Era Digital Media Tbk (EDM), Eranyacloud officially listed its shares on the Indonesia Stock Exchange (IDX) on Tuesday, April 18. In the first trading, the company's shares with the code AWAN rose 35 percent to Rp135 per share.

AWAN is known to have released 75 million shares with a price set at Rp100 to Rp110 shares. From the results of bookbuilding, a final public offering price of RP100 per share was formed so that the IPO funds to be obtained by the Company amounted to Rp75,000,000,000.

The IPO fundraising will be used to invest in the subsidiary of PT Era Awan Digital (EranyaCloud) as much as 80 percent and the rest to increase EDM's working capital by 20 percent of the total IPO proceeds after deducting IPO-related costs.

Today is a new chapter in EDM's travel history and Eranyacloud. Officially listed on the IDX, we are getting closer to our vision, namely to become a technology company that continues to innovate in developing products and services with the best service in Indonesia," said Director of PT Era Digital Media Tbk Shaane Harjani to the media, Tuesday, April 18.

Shaane said, of the 80 percent of the IPO funds to be distributed to Emanyacloud subsidiaries, 70 percent of the funds will be used to purchase 189 servers which will be used to increase server capacity and will also be used as the development of several new products which are planned to launch in 2023.

These products include the Eracloud Dashboard, Simple Storage Service (S3 Storage), Content Delivery Network (CDN) and GPU Server (Graphics Processing Unit). While the rest will be used by the Company for working capital Eranyacloud including employee salary & welfare, office rental, cost of goods sold (HPP), marketing activities, company certification and employee development to support Marketing, Product Development and Operations Eranyacloud.

"Until the end of the public offering period, Awan experienced excess demand or oversubscribed up to 114.8x times on the order for centralized allotment or pooling equipment," he concluded.