5 December 2019 (closed)
USD/IDR (14,037) -57.00 -0.40%
EUR/IDR (15,593) -28.80 -0.18%
Jakarta Composite Index (6,152.12) +39.24 +0.64%
The company profile of the Blue Bird Group has been updated in the Indonesian Companies' section. The Blue Bird Group is Indonesia's largest taxi operator with a current fleet size of about 26,000 taxis. The company is planning to conduct its initial public offering (IPO) on the Indonesia Stock Exchange (IDX) in the fourth quarter of 2013, through which it aims to raise over USD $600 million. It has been reported that Credit Suisse, Rothschild and UBS will act as underwriters. Funds will be used for expansion and rejuvenation of its taxi fleet.
To date, only one Indonesian taxi operator went public on the Indonesia Stock Exchange - Express Transindo Utama - which is Blue Birds largest rival for market leadership. The IPO of Express in November 2012 was successful and its shares surged over 181 percent since its first trading day (up to 18/09/13). Given that the Blue Bird Group is clear market leader in Indonesia's taxi sector and possesses a good record of services and management, the IPO is expected to be highly anticipated by investors.