JABAR EKSPRES –PT Sarana Mitra Luas Tbk, a forklift and material handling equipment rental company, was oversubscribed more than 140 times the minimum pooling when it officially listed its initial public offering (IPO) on the Indonesia Stock Exchange (IDX) on Friday.
“We would like to express our gratitude and are proud of this extraordinary investor enthusiasm, where 41,686 investors subscribed to our shares,” said Sarana Mitra Luas President Commissioner, Lucia Irawaty Lie, during Sarana Mitra Luas’ Initial Listing Ceremony in Jakarta, Friday (5/12).
The initial price of Sarana Mitra Luas shares offered is Rp100 per share. Thus the IPO makes the company coded SMIL stock as the 40th listed issuer in 2023 on the IDX.
Lucia hopes that the trust given can increase the size of Sarana Mitra Luas’ current and future business.
Before Sarana Mitra Luas was established as a PT, the company started a business in 1996 which began with a forklift rental business which at that time only 10 units in the Cikarang industrial area, Bekasi.
Along with the development of the business and the increase of forklift units owned, PT Sarana Mitra Luas was established in 2006.
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With the addition of contracts and cooperation from various well-known companies such as Sinar Mas Group, Indofood Group, Astra group, LG, Unilever, and others, he said that his party diversified forklifts from the majority of diesel-fueled forklifts to electric.
Product diversification is also carried out by renting out pallet movers, pallet stackers, and other material handling in order to expand the types of products offered to customers.
“This diversification is also in line with the Indonesian government’s policy to promote a green environment where our electric forklifts are free from noise and air pollution,” she said.
By the end of 2020, Lucia revealed that the company officially has more than 3,000 forklift units and diversified customers from various sectors such as the paper industry, manufacturing, electronics, automotive, consumer goods, packaging, and logistics.
