Sentral Mitra Informatika (SMI) plans to launch the initial public offering (IPO) for 154.6 million shares, representing 21.6% of its total issued and paid-up capital, targeting to raise Rp40-48 billion funds. The Company will also list 143.15 million shares, or 20% of its shares, from the settelment of mandatory convertible bonds (MCB) issued by Serial System Pte Ltd, based in Singapore. Phillip Sekuritas will act as underwriter for this IPO. SMI plans to expand its business to 15 cities by 2019. The Company targets to book net profit of Rp16.8 billion this year and revenues of Rp137.8 billion.
