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ISSUER NEWS - JAKARTA. The Deputy Director of PT TBS Energi Utama Tbk (TOBA), Pandu Patria Sjahrir, has spoken about the initial public offering (IPO) plans of Electrum.
Just so you know, Electrum is a joint venture company resulting from PT GoTo Gojek Tokopedia Tbk. (GOTO) and TOBA.
Pandu said, the opportunity for Electrum to go public on the Indonesia Stock Exchange is very open. This is because the business prospects for electric motorcycles are still bright.
"The momentum is good, because everyone likes what we are doing," he said when met in Central Jakarta, Wednesday (31/1).
However, Pandu has not yet announced when Electrum plans to become a public company. Currently, Electrum is still focused on increasing the penetration of electric motorcycles in the domestic market.
"That's for later, what's important is acceptance. We are still focused on selling. The electrification of motor vehicles is still low, so our task is to increase it first," said Pandu.
If the penetration of electric motorcycles is getting better in the domestic market, Electrum will make plans to go public soon.
"If everyone already likes it, then we will think about the Tbk (IPO plans). But, indeed we have to start thinking about when we will start Tbk," he explained.
Regarding nickel downstreaming, Pandu is optimistic that the next government will continue this policy. Electrum also plans to fully use battery raw materials from nickel.
"There is still lithium now, but we have planned in 2025-2026 it will go to nickel, because we will take the nickel from domestic," he said.
The downstreaming policy is often echoed by the Number 2 Candidate Pair Prabowo Subianto-Gibran Rakabuming Raka. Pandu is known to be part of the National Campaign Team (TKN).
"Whoever the elected candidate is, they will face the same problems and opportunities, so the focus will definitely be the same," he said.
