By: Ahmad Sadat
So shocked, I immediately went limp when I was in the middle of the meeting to get the news that the initial share order of PT. Idea Indonesia Akademi, Tbk (IDEA) experienced oversubscribed orders up to 62 times. This happens on the last day of the public offering period.
To be precise, there is an order of Rp. 1,246,176,218,000 (1.2 trillion) for the allotment of pooling shares which was “only” 20 billion rupiah, resulting in an overbooking of 62.31X. Of course we are only entitled to receive as per the offer in the prospectus.
The money of 1.2T is real (not leaves), actually paid up by prospective buyers of IDEA’s initial shares, as an official condition for ordering shares, and will be received back by customers if they do not get the share allotment.
Such a large appreciation of the capital market world for IDEA shares that there was such a large order. And you know what? We don’t use any strategy to sell. Because actually 100% of our shares either through fixed allotment or pooling have been booked out by stand by buyers, before we officially conduct a public offering.
Finally, all sales plans and public exposes we canceled because the goods had been sold out. And IDEA management has begun to focus on work. We started talking about future work plans, including the 2022 work plan, which was disrupted because we were busy preparing for the IPO.
It could be true as said: most businesses, especially SMEs in Indonesia, which account for 90% of the total business, are fighting for only 10% of the money in circulation. Meanwhile, 10% of medium and large corporations are fighting for 90% of the total money supply. One of the proofs is that, we want to sell shares of only 20M which order 1.2T.
PT. Idea Indonesia Akademi, Tbk became the 38th issuer listed in 2021 and became the 750th issuer on the Indonesia Stock Exchange. Indeed, compared to big-cap companies whose value is trillions, our valuation is small, only 160 billion. But, we list on the same exchange, you know, with them. The conditions for being able to list are also the same. And equally accessible not only to domestic investors, but also to all investors around the world.
Asiavesta Capital is determined to carry out its mission to bring SME-SMEs investees and transform them into corporations, and go public. Because then – although it is still small in size – the way it works, the network and the potential opportunities are already the same as that of large corporations. And being able to access 90% of opportunities in the business world that only 10% of companies around the world compete for.
As the Exchange has always said; Don’t wait for the new big to go public, but be big because it goes public.
Asiavesta Capital is an investment holding that invests in established small/medium-sized enterprises, has a strong and unique business, great growth and impact potential, and wants to transform into a corporation in an inorganic way.
We will be a strategic partner who helps restructure the company holistically so that it is ready to become a medium/large corporation and/or go public within 2 to 5 years.
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