Listed on IDX, SAP Express Sets Up IPO Price at Rp 250 per Share

Posted on 2018-12-18 18:19:35

Press Release

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Listed on Indonesia Stock Exchange, SAP Express Sets Up IPO Price at Rp 250 per Share


Jakarta, 27 September 2018. PT Satria Antara Prima Tbk (SAP Express) has successfully listed its shares in the Indonesia Stock Exchange (IDX) on Wednesday, 3rd October, 2018. The issuer with the SAPX stock code has previously set the price of the Initial Public Offering (Initial Public Offering / IPO) worth IDR 250 per share. The number of shares offered to the public reached 433,333,300 shares, equivalent to 52% of the issued and fully paid capital after the IPO. Previously, the Company which engaged in the courier and shipping industry set a price range between Rp220-Rp260 per share during the bookbuilding period on 31 August - 10 September 2018.

The total funds will be absorbed by SAP Express through this IPO celebration reached more than Rp108 billion, which the amount is in accordance with the targets set by SAP Express. Budiyanto Darmastono, President Director and founder of SAP Express, said the pricing was carefully considered and received a better-than-expected response.

“We notice that public interest and trust in the IPO of SAP Express shares is very high, so we can determine the price at Rp250 per share. With these prices, we provide space for the development of Company value after listing while paying attention to the current needs of funds. We are very grateful for the support of investors, regulators and the public for the SAP Express IPO that injects new enthusiasm for management and all SAP Express employees,” said the man who is familiarly called Budi.

“In addition, in particular we are also appreciate the blessing and valuable support from the Ministry of Communication and Information Technology (Kemkominfo) so that the SAP Express IPO can running smoothly without significant obstacles,” continued Budi, while explaining that the IPO process has been approved by the Ministry of Communication and Information through its letter dated 10 August 2018, according to Law Number 38 of 2009.

Excess Demand

Budi also said, SAP Express shares were exess demand up to twice than what it should allocated at the IPO. "The community are proven very enthusiast about SAP Express, where the value of orders entered at the time of the public offering reached three times from fundstarget that we collect through the IPO," said Budi, which headquartered in Halim, East Jakarta.

SAP Express has held a Public Offering on 27th September, 2018 after obtaining an effective statement from the Financial Services Authority on September 26, 2018. PT RHB Sekuritas Indonesia acts as the Securities Underwriter for the IPO celebration. Rationing has been done on 1st October, 2018 and the distribution of shares has been carried out on 2nd October, 2018.

Target grows double digits

Based on the Prospectus data available on the Company's website, in the first quarter of 2018, SAP Express recorded an increase in revenue of 54.3% to more than IDR 48.2 billion compared to the first quarter of 2017 which was recorded at IDR 31.2 billion. Still in the first quarter of 2018, SAP Express's gross profit also increased 59.3% to IDR 10.8 billion from IDR 6.8 billion.

Meanwhile, the value of SAP Express assets as of March 31, 2018 was recorded at IDR 56.3 billion, an increase compared to the previous year which was recorded at IDR 44 billion. As of March 31, 2018, SAP Express recorded a current ratio of 2.1 times, gross profit margin of 22.5%, and comparison of assets with liabilities of 1.2 times.

“By using funds absorbed through IPO, SAP Express capital structure will be much better, and certainly helps us to maintain revenue growth targets like in the previous years. We ask for prayers from investors so that SAP Express can execute its target smoothly and thus can provide more value for investors and stakeholders,” Budi closed.


SAP Express at a Glance

SAP Express was founded by Budiyanto Darmastono on 9th September, 2014. From year to year SAP Express continues to experience a very significant business growth, to date the number of SAP Express branches has reached more than 70 branches which managed independently. On 3rd October, 2018. SAP Express officially listed its first shares on the Indonesia Stock Exchange with the SAPX stock code. The transformation from a private Company to a public Company is a proof of the Company's commitment to support the logistics and courier industry continuously throughout the ages.