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AXIO recorded oversubscription 78 times

20 July 2022 09:25

JAKARTA – The shares of PT Tera Data Indonusa Tbk (AXIO), a laptop manufacturer, went oversubscribed 78 times during its initial public offering (IPO) last week, from July 13 to 15, 2022.

Michael Sugiarto, President Director of AXIO, concluded that the investors are highly enthusiast about AXIO’s debut. “The company issued 1,040,126,500 shares of IDR 25 each. These are approximately 17.8% of our entire issued and paid-up capital,” he explained further in the press release during the listing on Indonesia Stock Exchange (IDX) on Wednesday (20/7).

According to Sugiarto, AXIO has its eyes on youth as the market target, encouraging them to hone their technopreneur skills with Axioo laptops. “We can come to a right decision in regard to swift maneuvers more quickly compared to other competitors as it is only handled by one business entity,” he added.

During the IPO, AXIO collected IDR 145.61 billion, 90% of which is planned to be channelled to the working capital. Then, another 10% will be allocated for capital expenditure, such as funding the warehouse expansion and auxiliary equipment purchases. (LK/ZH)

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