With the IPO, Venteny will strengthen its business-to-business (B2B) segment by collaborating with industry associations and maintaining credit collectability levels.
Heaptalk, Jakarta — PT Venteny Fortuna International Tbk has listed its shares on the development board of the Indonesia Stock Exchange (IDX) with the issuer code VTNY, becoming the 59th company listed on the IDX in 2022.
Receiving high demand from the public, Venteny shares are oversubscribed by up to 12.58 times from pooling or centralized allotment based on data from the electronic initial public offering (e-IPO) system. The company has released 939,779,100 shares, or equivalent to 15% of the paid-up capital after the IPO.
Investors who buy Venteny shares come from 34 provinces in Indonesia and 6 countries. Meanwhile, the number of subscribers to the company’s shares reached 18,847 subscribers. Through the action of the IPO, the company has offered 939,779,100 shares and managed to raise funds amounting to Rp338.3 billion or US$21.7 million (US$1 equals Rp15,609).
The company plans to allocate the fresh funds, after deducting emission costs, to increase working capital for PT Venteny Matahari Indonesia (VMI) which is then distributed to P2P Lending (Peer-to-Peer) partners by 42%, business development includes developing employee super-apps, products and services, as well as expanding the marketing area by 30%, and the rest for group working capital by 28%.
With the IPO, Venteny will strengthen its business-to-business (B2B) segment by collaborating with industry associations and maintaining credit collectability levels. The company also plans to expand market coverage by increasing the number of representative offices to have a better impact on Indonesian MSMEs and their employees.
In addition, to improve and strengthen the business-to-business-to-employee (B2B2E) segment, the company is going to optimize big data to develop useful and effective services for employees in all segments. Thus, Venteny expects an increased contribution from the employee super-app and makes it a must-have application for all employees.
Reaching more than 250,000 users in Indonesia
Founder and Group CEO of PT Venteny Fortuna International Tbk Jun Waide delivered, “This historical moment is a new chapter for Venteny in building a technology ecosystem to support the acceleration of the MSME business and improve the quality of employees’ life.”
Jun expressed his gratitude that amidst the challenging global economic situation, the firm received enthusiasm from investors, users, and the public who have taken part in the journey. He is optimistic that Venteny will grow better in Indonesia.
Operating in the Philippines since 2015, Singapore in 2016, and Indonesia in 2019, Venteny decided to carry out IPO in Indonesia as a foothold. “We see a large and potential market scale in Indonesia, as well as the potential for strong national capital market growth with a large number of retail investors,” Jun added.
With 200,000 users in the Philippines and more than 250,000 users in Indonesia, the firm provides financial products to business owners, both MSMEs and large companies, as well as improves the welfare and competence of technology-based employees.
“Indonesia has a vision and mission to become a developed country and occupy the top five world economies in 2045, this is where technological innovations, including Venteny, can play a role. We are optimistic that our business can grow together with the Indonesian people which will also have an impact on the national economy,” concluded Jun.
