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7 June 2021 (closed)
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Indonesia Investments updated the company profile of Indonesia’s largest taxi operator. Blue Bird - the dominating market leader in Indonesia’s taxi services market - recently conducted an IPO on the Indonesia Stock Exchange, raising IDR 2.4 trillion (USD $200 million) by selling around 14 percent of its enlarged share capital. With an expanding population, a rapidly growing middle class, a low taxi penetration ratio, an urbanizing society, and lack of decent public transportation, demand for taxi services has been growing in Indonesia.
Stock Quote Blue Bird - BIRD:
Blue Bird commands a market share of 33 percent in Indonesia's taxi services market, followed by Express Transindo Utama (11 percent).
The company announced that 53 percent of proceeds generated through the IPO will be used for debt repayment, while the remaining 47 percent will be used for capital expenditure (capex) in 2015. Capex includes a car pool acquisition as well as adding 7,500 taxi units to its current taxi fleet.
Although most famous for its taxi services (which account for about 79 percent of the company’s revenues), Blue Bird is also active in logistics services, manufacturing and property business.
Blue Bird Group's Financial Highlights:
in billion IDR rupiah unless otherwise stated
Source: Deutsche Bank