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JAKARTA - PT Sinar Eka Selaras Tbk (ACKer code: ERAL) or Erajaya Active Lifestyle (EAL) held an initial public offering (IPO) on the Indonesia Stock Exchange, offering a maximum of 20 percent of shares to the public. In this corporate action, ERAL was assisted by PT BNI Sekuritas and PT Mirae Asset Sekuritas Indonesia as joint lead underwriters.

The initial offering (bookbuilding) of ERAL shares is scheduled for July 14 - 26, 2023. The effective statement letter from the Financial Services Authority (OJK) is expected to be obtained on July 31, 2023. After that, the public offering will be held on August 2 - 4, 2023, and the listing of shares (listing) on the Indonesia Stock Exchange (IDX) on August 8, 2023.

Funds obtained from the IPO of around 37 percent will be used for existing business expansion, then 13.75 percent to support new business expansion, and 49.25 percent will be used as working capital.

ERAL is an issuer affiliated with the Erajaya Group and is engaged in a leading multi brand retail and distribution solution provider company in Indonesia. ERAL has a comprehensive brand portfolio in three segments, namely Accessories (Ecosystem), Internet of Things (IoT) and sportswear, fashion and outdoors.

President Director of PT Sinar Eka Selaras Tbk (ERAL) Djohan Sutanto said this IPO was an effort made by ERAL to maximize the company's competitive advantage, namely maximizing the business that was already running and capturing new opportunities in the future.

ERAL is a major player in the retail industry and has a wide market in Indonesia. We also provide innovative solutions and extraordinary services through a portfolio of world-class active lifestyle products, supported by Omni-Channel networks throughout Indonesia, making it the main choice for consumers in Indonesia," he said, Monday, July 17.

Djohan stated, ERAL is optimistic that the retail sector has great potential to continue to grow in Indonesia. Moreover, until now the largest national economic growth is still supported by consumption activities. Until the end of the first quarter of 2023, more than 50 percent of national economic growth was contributed by the consumption sector. Meanwhile, citing data from the Central Statistics Agency, during that period, the consumption sector recorded a growth of 4.54 percent year on year.

To date, ERAL already has various top brand portfolios for a number of product segments in the retail sector. In the Accessories (ecOSsystem) segment, ERAL oversees various top product brands, such as Apple, Samsung, Huawei, Xiaomi, Playstation, Microsoft, JBL and so on. In the Internet of Things (IoT) segment, ERAL oversees DJI, Garmin, GoPro, Marshall, Segway and so on.

Then in the sportswear, fashion, and outdoors segments, ERAL has a JD Sports, ASICS, and Urban Adventure brand portfolio.

Until the end of 2022, ERAL posted revenue of IDR 3.04 trillion with an average annual growth (CAGR) between 2020-2022 of 24.11 percent. This achievement was obtained from sales support through 28 mono-brand stores, 36 multi-brand stores, 56 distribution centers, and official stores on 3 e-commerce platforms, namely Tokopedia, Shopee, and Blibli.

In addition, ERAL as part of the Erajaya Group has the reach of more than 6.5 million MyEraspace members in the e-commerce service eraspace.com which offers various levels of rewards and exclusive benefits to facilitate spending for ERAL and Erajaya customers.

This also helped ERAL increase revenue. Meanwhile, ERAL's net profit at the end of last year reached IDR 184 billion, with an average annual growth between 2020-2022 of 58.60 percent.

ERAL also continues to expand its international brand portfolio in sectors that are ERAL's focus. This is expected to be able to boost the company's performance in the future.

In order to maximize revenue, ERAL is also supported by a network from the Erajaya Group which is the parent ERAL, which has been the market leader for the distribution of various brands, especially those related to gadgets. This makes ERAL transform into a major distributor for a number of top brands for end-to-end lifestyle products.


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