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Indomobil Multi Jasa to push back subsidiary’s IPO

23 August 2022 17:24

JAKARTA. PT Indomobil Multi Jasa Tbk (IMJS) announces the postponement of the Iniital Public Offering (IPO) plan for one of its subsidiaries, PT CSM Corporatama.

Jusak Kertowidjojo, President Director of IMJS, mentioned that this delayed arrangement was induced by the yet unstable market trend. “Therefore, PT CSM Corporatama will remain as a private company and has readjusted its articles of association,” he added in the information disclosure in Indonesia Stock Exchange (IDX).

Kertowidjojo also stated that IMJS’s portion in CSM Corporatama is unchanged. “[IMJS} is still the controlling shareholder of PT CSM Corporatama,” he explained.

Based on idnfinancials.com data, CSM Corporatama is a company engaged in the vehicle rental industry. It has been running commercially since 1988. In June 2022, CSM Corporatama recorded having assets of IDR 10.38 trillion.

In today’s trading session, IMJS’s stock price ended strong, scoring 4 points or 1.24% higher to IDR 326 per share. However, year-to-date, IMJS’s stock price has declined 22.38% or 94 points from IDR 420 per share. (KR/ZH)

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