JBA, Go Public

PT Autopedia Sukses Lestari Tbk has officially conducted an Initial Public Offering (IPO) on the Indonesia Stock Exchange. The company, which operates in the auction house and car retail trade, issued 2.54 billion shares of common stock or 20 percent of the issued and paid-up capital after the IPO, with an initial offering price of Rp256 per share. Thus, the issuer coded ASLC shares will pocket Rp652.61 billion in fresh funds.

 

Meanwhile, the planned use of the IPO proceeds is around 64.71 percent for working capital in connection with the company's new business which has started operating since January 3, 2022, such as buying and selling used vehicles online and offline. Meanwhile, the remaining 35.28 percent will be used to repay all loans to the parent company, namely PT Adi Sarana Armada Tbk (ASSA) with a principal value of IDR 225 billion.

 

JBA is a group that is part of PT Autopedia Sukses Lestari Tbk together with Caroline and Cartalog. Autopedia wants to encourage the acceleration of an integrated used vehicle digital ecosystem by providing a platform both offline and online.

 

With the momentum of the revival of the automotive industry after the pandemic, Autopedia will further expand the used vehicle market in Indonesia.

Jany Candra, President Director of PT Autopedia Sukses Lestari President Director of PT Autopedia Sukses Lestari Tbk, Jany Candra said “For 2022, we are still optimistic that we can achieve a better growth target compared to the previous year. This is also supported by the auction capability owned by JBA, which by the end of 2021 is estimated to have auctioned almost 200,000 units of used cars and motorcycles with more than 220,000 bidders per year throughout Indonesia.” With JBA's position as the largest auction house in Indonesia, and a proven track record, PT Autopedia Sukses Lestari Tbk is confident that it will still be able to continue its positive growth in the following years. You can access the latest information about JBA via www.jba.co.id