Shares of Yelooo Integra Datanet (YELO) gained 49% to Rp560 at 2.40 pm Jakarts time, its trading debut today, compared to its IPO price at Rp375. It offered 130 million shares through initial public offering (IPO), to raising total proceeds of Rp48.75 billion.
At IPO price, YELO started trading with market capitalization of Rp142.28 billion. The Company listed 380 million shares on Indonesia Stock Exchange (IDX). YELO also offered 78 million warrants priced at Rp500.
IPO proceeds will be used for purchasing of billing management system & SIM bank device (71.48% portion), working capital such as purchase of modem & power bank (24.65%), and passpod application development (3.87%).
YELO booked net profit of Rp0.47 billion in Jan-Apr 2018 period on revenues of Rp4.2 billion. Its assets reached Rp33.4 billion and liability amounted Rp2.1 billion.