Official IPO, United Bike Shares Rise Slightly by 0.83%

February 07, 2024, 09.58 AM | Reporter: Pulina Nityakanti

ILUSTRASI. Sejumlah pekerja melakukan proses produksi sepeda motor listrik di PT Terang Dunia Internusa Plant II, Citeureup, Kabupaten Bogor, Kamis (21/9/2023). PT Terang Dunia Internusa atau United Bike mulai fokus memproduksi sepeda dan motor listrik dengan menargetkan kapasitas produksi sebanyak 500.000 unit per tahun sebagai upaya mendukung program pemerintah dalam pengurangan emisi karbon. ANTARA FOTO/Arif Firmansyah/tom.

INITIAL PUBLIC OFFERING (IPO) - JAKARTA. PT Terang Dunia Internusa Tbk (UNTD) is officially listed on the Indonesia Stock Exchange (IDX), today (7/2). In its initial trading, until 09:01 WIB, UNTD shares rose 0.83% to a price position of IDR 242 per share.

The company, which produces United Bike bicycles and United E-Motor electric motorcycles, offered as many as 1.66 billion shares in an initial public offering (IPO) with a public offering price of 240 per share.

UNTD Director Andrew Mulyadi said, the Company successfully pocketed fresh funds of IDR 400 billion.

In this corporate action, UNTD appointed PT Mirae Asset Sekuritas Indonesia and PT BRI Danareksa Sekuritas Indonesia as the underwriters of the securities issuance.

“All IPO funds will be used for working capital to purchase raw materials for electric motorcycles and E-Mopeds, among others for the purchase of frames, batteries, dynamos, wheel-sets, multi-information displays (digital speedometers, GPS), brake systems, and suspensions,” he said in the UNTD IPO, Wednesday (7/2).

In connection with the purchase of these raw materials, UNTD is not bound in an agreement or obligation with the supplier party and the company can ensure that the purchase of these raw materials will be carried out not with affiliated parties but with third parties.

Through this IPO, Terang Dunia will increase the purchase of raw materials for the production of electric motorcycles and E-Mopeds and increase sales in Indonesia as a strategy to take advantage of significant market growth opportunities and expand market share in the rapidly growing electric vehicle industry.