JAKARTA - PT Putra Mandiri Jembar Tbk (PMJS) is officially listed on the Indonesia Stock Exchange today (12/18). The company released 137.6 million shares to the public in its initial public offering (IPO) and managed to reap fresh funds amounting to Rp 17.2 billion.
For information, PT Ciptadana Sekuritas Asia was appointed as the IPO underwriter. IPO proceeds will be used as loans to the subsidiary, PT Dipo International Pahala Otomotif for business development.
"IPO proceeds can be used to build 5 outlets," said Ie Putra, Finance Director of Putra Mandiri Jembar, as quoted from Bisnis.
Until now, PMJS has 45 Mitsubishi outlets and dealers, 2 Nissan dealers and 1 Mercedes Benz dealer. Until the end of the first semester, the company's net sales were recorded at Rp 4.08 trillion with a net profit of Rp 99.08 billion. (LM)