PT MPX Logistics International Tbk (MPXL) listed its initial listing on the Indonesia Stock Exchange (IDX) on Tuesday (9/5/2023).
In its first trading session on the secondary market, MPXL shares opened, flying 34.26%, hitting the upper auto reject limit (ARA) to IDR 145. Its position remains as long as it is monitored in the first 10 minutes of the first session.
The company listed 2 billion shares on the IDX, consisting of 1.6 billion founder shares and 400 million shares from the initial public offering (IPO).
Previously, the company had set an IPO price of Rp 108 per share, so the proceeds from this action were Rp 43.2 billion. The offering period generally takes place on May 3-5, 2023. Panin Sekuritas acts as the underwriter.
The company also issued 80 million series I warrants free of charge for new shareholders. Every holder of 5 new shares gets one series I warrant, where every warrant can be redeemed for one share. The exercise price is Rp 368. The total proceeds from the exercise of series I warrant is a maximum of Rp 29.44 billion.
“Through this IPO, we want always to have a positive impact, we want to consistently support the running of national infrastructure, which is increasingly aggressively developing,” said Main Director of PT MPX Logistics International Tbk Wijaya Candera at the MPXL listing ceremony in Jakarta, Tuesday (9/5/2023).
Wijaya said this IPO was an important moment for the company, which had transformed from a family business to a public company.
“Now, the company has access to finance and a wide open business network, so the company can optimize market opportunities that are growing fast, especially to meet the needs of business actors and the public to be more effective and efficient,” he added.
On the same occasion, Wijaya appreciated all parties’ contributions in listing the company’s initial shares on the Exchange.
He explained the purpose of a company going public is to open access to a broader capital market so that it can have a lot of facilities to develop its business even more rapidly.
“Our vision is a company that provides transportation and logistics on a national scale with an international level. In addition, our goal to go public is to achieve transparency, efficiency, and accountability in every company’s operational activities,” he said.
PT MPX Logistics International Tbk is also ready to support the community and government that need transportation and material services in the context of infrastructure development for Indonesia Maju 2045.
“Going public for MPXL is not the end of aspirations but the beginning of something to be able to continue to grow and contribute to all of the company’s stakeholders,” he concluded.
