Prospective bolt industries encourage Mitra Angka to launch the IPO
JAKARTA. PT Mitra Angkasa Sejahtera (MAS), a company in the bolts and nuts industry, is set to debut through its initial public offering (IPO) in Indonesia Stock Exchange (IDX).
Although the details regarding the funds and the date of the IPO have yet to be decided, in the official release today (29/11), Simon Hendiawan, President Director of Mitra Angkasa Sejahtera, claimed that the IPO is intended to increase the capitalisation to expand the company’s marketing scope. By becoming a public company, MAS wishes to boost its competitiveness and enhance good corporate governance (GCG). “The company would become more credible and transparent, and its competitiveness would be even stronger,” he confirmed.
Furthermore, Hendiawan sees the bolts and nuts industry in Indonesia as a highly prospective business in which the demands are higher than the supply. Another promising factor also includes the massive government movement in building infrastructures.
Until October 2021, MAS’s sales proliferated over 11% from its gain in the same period last year. In comparison, MAS’s 2020 sales were only 5% higher than its sales in 2019. (AM/ZH)