Shinhan Securities Indonesia has announced the successful listing of PT Informasi Teknologi Indonesia (JATI), an AI-based app development company, on the Indonesia Stock Exchange (IDX) on May 8.
The company was able to raise 65.2 billion rupiah (approximately 5.8 billion won) by issuing shares at a public offering price of 100 rupiah per share.
On the second day of trading, JATI's shares rose to the price limit of 35%, closing at the upper limit of 182 rupiah. The funds raised through this initial public offering (IPO) will be used for operating funds such as AI application and e-commerce module development, human resource development, marketing, and B2B cloud service maintenance.
JATI is a digital communication and distribution technology-based company that was founded in 2002. It currently has more than 500 corporate customers and manages over 90 million message services per month.
Shinhan Securities Indonesia acquired a 99% stake in Makinta Securities, an Indonesian securities firm, and launched in December 2016. In 2017, Shinhan Securities Indonesia took charge of the IPO of Campina, the second-largest Indonesian ice cream maker, becoming the first Korean securities company to do so. Shinhan Securities Indonesia has also issued Kimchi bonds worth a cumulative amount of $265 million (KRW 312 billion).
Shinhan Securities is actively involved in the local IB market, ranking 11th in the 2022 bond issuance market league table in the local bond acquisition and issuance market. This year, Shinhan Securities Indonesia has overseen four IPOs, including PIPA and JATI, and successfully completed their listing on local exchanges.
