MTDL - PT. Metrodata Electronics Tbk

Rp 498

-2 (-0,40%)

JAKARTA. PT Metrodata Electronics Tbk (MTDL) has signed an investment contract worth USD 500 thousand or IDR 7.12 billion with Kulawarga Asia Pte Ltd (Sayurbox).

Randy Kartadinata, Corporate Secretary of Metrodata Electronics, states that the said funds would be converted into shares in Sayurbox. He adds that this investment acts as preliminary funding during the Bridge Round in Sayurbox.

“The company, within a certain time range, would gain a stock ownership in Sayurbox as much as the number and percentage of shares stated in and regulated by the said investment deal,” Kartadinata reveals in the information disclosure in Indonesia Stock Exchange today (22/9).

It is worth mentioning that the entire raised funds during this funding would be used to support operational activities of Sayurbox and its subsidiaries in the e-groceries sector. For the record, Sayurbox has been established and operating in Indonesia since 2017. Its daily operational activities are handled by PT Kreasi Nostra Mandiri and PT Kreasi Tani Laksmi.

“The purpose of this investment aligns with the grand strategy of the company, which is to be involved entirely in the digital transformation in Indonesia,” Kartadinata further explains. (KR/ZH)