Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Indonesia
  4. INDONESIA STOCK EXCHANGE
  5. PT Elang Mahkota Teknologi Tbk
  6. News
  7. Summary
    EMTK   ID1000113905

PT ELANG MAHKOTA TEKNOLOGI TBK

(EMTK)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Indonesian blockbuster IPO to set tone for Southeast Asia tech sector

08/05/2021 | 07:30pm EDT
FILE PHOTO: The logo of Bukalapak, an Indonesian e-commerce firm, is seen outside its headquarters in Jakarta

SINGAPORE (Reuters) - The first listing of a multibillion-dollar Southeast Asian tech company in Indonesia on Friday will set the benchmark for IPO hopefuls in a region where global investors are chasing fast growing e-commerce markets.

PT Bukalapak.com Tbk, a 11-year-old e-commerce company backed by Ant Group, Singapore sovereign fund GIC and local media and tech conglomerate Emtek, makes its market debut after raising $1.5 billion in Indonesia's biggest ever initial public offering (IPO).

The first listing of a venture-backed company in a country crowded with founder-led startups, has fuelled a frenzy among institutional and retail investors scrambling to get a piece of the IPO in a market that has seen few large flotations.

"I'm expecting to get some capital gain for the listing since it will get a lot of buy ratings," said Andry Taneli, a retail investor, who cited Bukalapak's size among local tech firms and its anticipated strong liquidity versus peers.

The IPO comes as Indonesia's $40 billion e-commerce market is getting a boost from stay-at-home consumers and a shift by more businesses to sell online in the pandemic.

Bukalapak, which focuses on micro, small and medium-sized enterprises beyond top tier cities in Southeast Asia's largest economy, is the fourth-largest e-commerce player after Tokopedia, Sea Ltd's Shopee and Alibaba's Lazada.

Investor interest is also running high ahead of a planned multibillion-dollar IPO by GoTo, Indonesia's most valuable startup formed through the merger of ride-hailing and food delivery firm Gojek and e-commerce leader Tokopedia.

Bukalapak, which is also backed by Microsoft, began seeking $300 million earlier this year but ended up raising $1.5 billion. [L1N2OS07G]

This came after roughly $6.5 billion of interest from about 150 institutional investors and more than 100,000 retail investors, two sources familiar with the matter said. The retail part of the IPO was doubled to 5%.

"This IPO has also demonstrated that Southeast Asia technology companies can achieve a premium valuation for growth with significant demand," said Nicolo Magni, head of global banking for Southeast Asia and India at UBS, the joint global coordinators for the issue with Bank of America.

"This creates a platform for other companies to have sizeable, highly successful offerings to list in Indonesia or other regional exchanges," said Magni.

Loss-making Bukalapak's IPO was priced at the top of its 750 and 850 rupiah per share range and the firm was valued at $6 billion.

(Reporting by Anshuman Daga in Singapore and Fransiska Nangoy in Jakarta Additional reporting by Fanny Potkin in Singapore; Editing by Mark Potter)

By Anshuman Daga and Fransiska Nangoy


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION -0.13% 47.51 Delayed Quote.56.75%
MICROSOFT CORPORATION -0.33% 308.13 Delayed Quote.38.54%
MSCI SINGAPORE (GDTR) -0.25% 6809.141 Real-time Quote.17.29%
PT ELANG MAHKOTA TEKNOLOGI TBK 8.46% 1795 End-of-day quote.28.21%
All news about PT ELANG MAHKOTA TEKNOLOGI TBK
09/20PT ELANG MAHKOTA TEKNOLOGI TBK(IDX : EMTK) added to S&P Global BMI Index
CI
08/09FUSE NANO Technology Co. Ltd. announced that it has received funding from PT Sinar Mas ..
CI
08/06Bukalapak surges 25% as Indonesia's largest IPO fuels tech excitement
RE
08/05Bukalapak surges 25% as Indonesia's largest IPO fuels tech excitement
RE
08/05Indonesian blockbuster IPO to set tone for Southeast Asia tech sector
RE
08/05EMTEK SHENZHEN : Apis Partners invests $32 million in Indonesia digital payments firm
RE
07/30Pt Elang Mahkota Teknologi Tbk Reports Earnings Results for the Half Year Ended June 30..
CI
07/27Emtek Partners with Grab to Facilitate Alliance with Bukalapak
MT
07/26PT ELANG MAHKOTA TEKNOLOGI TBK : Indonesia's Emtek group invests $375 mln in Grab's Indone..
RE
07/26PT ELANG MAHKOTA TEKNOLOGI TBK : Indonesia's Emtek group invests $375 mln in Grab's Indone..
RE
More news
Financials
Sales 2021 13 428 B 0,95 B 0,95 B
Net income 2021 2 114 B 0,15 B 0,15 B
Net cash 2021 4 524 B 0,32 B 0,32 B
P/E ratio 2021 53,7x
Yield 2021 3,06%
Capitalization 107 554 B 7 596 M 7 636 M
EV / Sales 2021 7,67x
EV / Sales 2022 7,27x
Nbr of Employees 5 715
Free-Float 16,8%
Chart PT ELANG MAHKOTA TEKNOLOGI TBK
Duration : Period :
PT Elang Mahkota Teknologi Tbk Technical Analysis Chart | EMTK | ID1000113905 | MarketScreener
Technical analysis trends PT ELANG MAHKOTA TEKNOLOGI TBK
Short TermMid-TermLong Term
TrendsNeutralBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 1 795,00 IDR
Average target price 2 980,00 IDR
Spread / Average Target 66,0%
EPS Revisions
Managers and Directors
Alvin Widarta Sariaatmadja President Director
Eddy Kusnadi Sariaatmadja President Commissioner
Stan Stanislaus Maringka Independent Commissioner
Pandu Patria Sjahrir Independent Commissioner
Fofo Sariaatmadja Commissioner
Sector and Competitors
1st jan.Capi. (M$)
PT ELANG MAHKOTA TEKNOLOGI TBK28.21%7 596
FOX CORPORATION43.65%23 223
DISCOVERY, INC.-15.95%16 517
RTL GROUP S.A.23.70%8 764
NEXSTAR MEDIA GROUP, INC.39.00%6 344
TEGNA INC.47.17%4 473