New Issuer Topindoku's Action: Teaming Up with Telkomsel for Exclusive Data Offerings

ISSUER -  JAKARTA. PT Topindo Solusi Komunika Tbk (TOSK) has partnered with PT Telkom Indonesia Tbk's business entity (TLKM), namely PT Telekomunikasi Selular alias Telkomsel to tap into the SME market. 

Topindo Solusi Komunika's Corporate Secretary Mutsabbit Firas explained that through this partnership, they will launch a special data package for Topindoku Partners. 

"The entire series of products from the collaboration between Topindoku and Telkomsel has been integrated into the Topindoku application called SME Data Package," he explained in an official statement, on Friday (16/2). 

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Mutsabbit said the Topindoku data package product has become one of the most sought-after products during 2023. This reflects the high demand for internet data package products. 

In the future, Topindo Solusi Komunika's Founder & Chief Executive Officer Seiko Manito added that TOSK will boost business margins and net profit through product mix. 

Digital products have so far provided large and stable revenue volumes, but from a margin perspective, they are quite low, while non-digital products provide much higher margins. 

"However, it requires extra effort because it requires larger infrastructure and logistics," said Seiko. 

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For this reason, TOSK held an initial public offering (IPO). Through this corporate action, TOSK managed to pocket fresh funds of IDR 109.37 billion. 

The details are, that about 40% of the IPO after deducting securities issuance costs will be used for working capital in the form of purchasing digital product inventory and IT system development. 

 

Then about 9.53% will be allocated to the subsidiary, namely TNN, in the form of working capital deposits that will be used for working capital in the form of purchasing retail product inventory. 

About 50.47% will be allocated to the subsidiary, namely TIP in the form of capital deposits. The plan is, TIP will acquire a property and working capital and operational needs.

"With this IPO, it is hoped that TOSK can strengthen the non-digital business line in the next five years," said Seiko.