JAKARTA - PT Dharma Polimetal (DRMA), an automotive component manufacturing company owned by the Triputra Group, finally received the approval from the Financial Services Authority (OJK) on December 10, 2021 to continue the Initial Public Offering (IPO) process. This momentum is very appropriate considering that the Indonesian automotive industry is starting to show a direction of recovery and revival after more than two years of stagnation and decline due to a prolonged pandemic.
Irianto Santoso, President Director of DRMA, stated, "We are grateful to be able to start the IPO process at the end of 2021 where public optimism begins to emerge and various government incentives to stimulate the automotive industry are starting to show encouraging results. Moreover, the trend towards electric vehicle manufacturing is starting to show an increase in demand in 2022," he said.
Based on data from GAIKINDO, there was a significant increase in car retail sales during the first nine months of 2021 by 50% compared to the same period in 2020, although the total figure was still below the 2019 and 2018 sales levels. In addition, the export market also increased throughout the year. 2021 where all of these conditions are certainly favorable for the component manufacturing business such as DRMA.
Regarding the IPO plan, the offering price is Rp 500 per share with a target fund of around Rp 353 billion. DRMA will enter an initial public offering period starting on December 13, 2021 until December 16, 2021. It is planned that Dharma Shares will be listed on the Indonesia Stock Exchange on December 20, 2021. (LM)