TECH INVESTMENT OPPORTUNITY: OONA MOBILE TV LISTED ON THE INDONESIAN STOCK EXCHANGE JULY 12 2018

PT NFC Indonesia, which co-owns OONA Indonesia (OMI), set the price for implementing an initial public offering (IPO) close to the upper limit of the offer price range [1].

NFC is a subsidiary of PT M Cash Integration Tbk, the renowned digital system provider. "Quoting Kustodian Sentral Efek Indonesia (KSEI), NFC set the implementation price of Rp 1,850 per share. The company offers an initial share price ranging from Rp 1,500 to Rp 2,000 per share" [1].

NFC is offering investors 166.67 million shares. To that end, the company raised fresh funds of Rp 307.1 billion through corporate action. "After determining the exercise price, the IPO proceeded to the public offering process, between 3 to 5 July" [1].

"The allotment stage was on July 9, 2018, while listing on the Indonesia Stock Exchange will take place on July 12, 2018," said Chairman of PT NFC Indonesia Jahja Suryandy at BEI Building, Jakarta, Tuesday (3/7)" [1].

The underwriters comprise: Trimegah Sekuritas Indonesia, Sinarmas Sekuritas, and Kresna Sekuritas [1]. 

OONA's business plan involves utilising:

• 60% of the IPO as working capital
• 30% for various digital investments including:
• IT, AI and Blockchain development
• 10% (approximately) for human resources investment

NFC Indonesia, President, Abraham Theofillus stated that: "post IPO, NFC will be able to dedicate more resources to work on the company's business to make it a digital exchange hub, through the development of four business platforms, namely: digital exchange, digital advertising exchange, exchange communications platform, media, and entertainment [1]. "Currently, the new company operates two lines of business, namely digital and media exchanges and entertainment," he added [1].

The Application Programming Interface (API) revolution is utilized by NFC to: "enable the company to "connect and operate big data from multiple business lines" [1].
Within the digital sphere: "the company introduced NFCXC, a real-time pulse marketplace, while for media and entertainment businesses, the company introduced OONA TV, through its subsidiary PT OONA Media Indonesia, a free TV and video entertainment app" [1].

Reference

[1]. Setiyaningsih, Eka (2018). "Saham perdana pemilik Oona TV ditetapkan Rp1.850." https://www.alinea.id/bisnis/saham-perdana-pemilik-oona-tv-ditetapkan-rp1-850-b1U2m9cnT