Kresna Graha Investama’s subsidiary, DIVA, prepares for IPO by giving up 30% shares to public, targeting fresh funding up to IDR 800 billion (US$ 53 million)

The article Kresna Graha Investama’s Subsidiary “DIVA” is Set for IPO, Ready to Offer 30% of New Shares was written by Marsya Nabila for DailySocial.

PT Distribusi Voucher Nusantara (DIVA), one of Kresna Graha Investama’s subsidiaries, is ready to make the first initial public offering (IPO) by trading 30% of its shares to the public. According to plan, the corporate action should be listed effectively on IDX by the end of November 2018.

“The price per share will be announced at the end of October 2018. It is to be effectively listed on IDX by the end of November 2018. We’re doing anchor investor and cornerstone by roadshows in Hong Kong and Singapore,” Suryandy Jahja, Kresna Graha Investama’s Managing Director, told DailySocial.

This corporate action is to provide additional funding of IDR 600 to 800 (US$40-53 million) for DIVA. It’s for making expansion and to create exponential growth.

In running the business, DIVA focused on digitizing SME’s entrepreneurs with technology using either chatbox or smart outlets. One of the realizations is DIVA’s recent collaboration with Telkomsel for digital cashier solution T-Kiosk.

In Jahja’s opinion, after IPO, the company will prepare for similar corporate action for OONA Indonesia. OONA is targeted to be available in IDX by next year.

“OONA is yet to IPO this year, hopefully, next year,” he said.

Previously, NFC Indonesia has become the second digital company under Kresna to IPO this year. NFC has traded 25% of the latest shares worth IDR 1,850 (US$0.12) per share. The company obtained fresh funding of IDR 308.33 billion (US$ 20 million) from this action, to be utilized for capital fund, digital investment, and HR development.

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