Invaded During IPO, Mitra Area Facilities Reach Oversubscribe 140 Times

Illustration of stock movement (Photo: Doc. Antara)

JAKARTA - PT Sarana Mitra Luas Tbk is officially listed on the Indonesia Stock Exchange (IDX). The reason is, the company achieved an oversubscribe or oversubscribe of more than 140 times the minimum pooling when it officially recorded an initial public offering (IPO).

"We thank you, thank you and are proud of the enthusiasm of this extraordinary investor, where 41,686 investors have made our share bookings," said Sarana Mitra Luas President Commissioner Lucia Irawaty Lie quoting Antara.

The initial price of Sarana Mitra Luas shares offered is IDR 100 per share. Thus, the IPO made the company coded SMIL shares as the 40th listed issuer in 2023 on the IDX.

Lucia hopes that this trust given can increase the size of Mitra Luas' current and future Sarana business.

Before Sarana Mitra Luas was founded as PT, the company started a business since 1996 which started with a forklift rental business which at that time was only 10 units in the Cikarang industrial area, Bekasi.

Along with business developments and the increase in forklift units owned, PT Sarana Mitra Luas was founded in 2006.

With the addition of contracts and cooperation from various well-known companies such as Sinar Mas Group, Indofood Group, Astra group, LG, Unilever, and others, he said that his party diversified forklifts from the original majority of diesel fuel forklifts to electric ones.

Product diversification is also carried out by also renting out mover pallets, picker pallets, and other material handling so that they can expand the types of products offered to customers.

"This diversification is of course also in line with the Indonesian government's policy to declare a green environment where the electric forklifts we have are certainly free from noise and air pollution," he said.

At the end of 2020, Lucia revealed that the company officially owns more than 3,000 forklift units and diversifies customers from various sectors such as the paper industry, manufacturing, electronics, automotives, consumer goods, packaging, and logistics.

In running a business, SMIL always prioritizes good corporate governance, which is expected to make a positive contribution to stakeholders, investors, vendors, customers and company employees.

Through this IPO, he said the company was transforming into an open company or upgrading, so that SMIL would always maintain the trust and trust that had been given.

"We are optimistic about this IPO and supported by the company's experience, Sarana Mitra is wide that it will continue to grow and become a leading forklift rental company in Indonesia," said Lucia.