Rudolf P Nainggolan, President Director of Gihon Telekomunikasi Indonesia, said his company targets to grow organically supported by the initial public offering (IPO) on the Indonesia Stock Exchange that brings in new funds. He added that the telecommunication industry is growing rapidly especially now technology is shifting from 3G to 4G in Indonesia, thus the company has great prospects. Therefore, the IPO was oversubscribed by 1.7 times.

Through the IPO Gihon Telekomunikasi Indonesia obtained IDR 178.87 billion (approx. USD $13 million) in fresh funds. Around half of these IPO proceeds will be used to settle a IDR 90 billion debt at Bank Mandiri. The remainder will be allocated for the company's working capital budget.

Gihon Telekomunikasi Indonesia rents telecommunication towers to telecommunication operators such as Indosat Ooredoo and XL Axiata. XL Axiata contributes around 60 percent to total sales of Gihon Telekomunikasi Indonesia.

Prior to the listing of Gihon Telekomunikasi Indonesia five other companies were added to the Indonesia Stock Exchange in 2018: telecommunication construction services company LCK Global Kedaton, coal miner Borneo Olah Sarana Sukses, helicopter transportation services company Jaya Trishindo, solar panel manufacturer Sky Energy Indonesia, and trade, transportation and logistics services provider Indah Prakasa Sentosa. Meanwhile, Tridomain Performance Materials also made its trading debut today.

Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 09 April 2018
CompanyP: 29 Mar 2021P: 28 Mar 2021Gain/LossP/E ttmYield %Gain/Loss YTD
LCK Global KedatonLCKM2542501.60%N/A0.00%-34.20%
Borneo Olah Sarana SuksesBOSS111113-1.77%N/A0.00%-35.09%
Jaya TrishindoHELI464496-6.45%N/A0.00%125.24%
Sky Energy IndonesiaJSKY1311300.77%N/A0.00%-31.05%
Indah Prakasa Sentosa Tbk.INPS2,0002,0000.00%N/A0.00%-59.60%
Gihon Telekomunikasi Indonesia Tbk.GHON2,1002,200-4.55%N/A0.00%23.53%
Tridomain Performance Materials Tbk.TDPM1191190.00%N/A0.00%-13.14%
Combined Total5,1795,308-2.43%-33.09%

Green colour indicates upward movement Red colour indicates downward movement P = price; E = earnings; D = dividend; Yield = D/P "N/A" indicates P/E < 0 (negative earnings) "-" indicates E,D,P or YTD is not available