Ready to go to the Stock Exchange, PT Global Sukses Solusi Tbk Targets 49.9 Billion from IPO

Jakarta, 20 August 2021 – PT Global Sukses Solusi Tbk (GSS) officially announced its plans to carry out an Initial Public Offering (IPO) in the Indonesian Capital Market. A total of 196.8 million shares were released or equivalent to 20.01% of the total issued and paid-up capital after the IPO process.

The target fund desired by GSS from the IPO is IDR 49,987,200,000. The share price offered to the public is IDR 230 – 254 per share.

Along with the IPO, the company held an ESA (Employment Stock Allotment) program by allocating shares of a maximum of 1% of the number of shares offered or a maximum of 1,968,000 shares.

β€œThe proceeds from the IPO will be used around 74% as working capital for financing new projects, overhead and operational costs. 11% will be used for market acquisition and expansion, 10% will be used for research and development. The remaining 5% will be used for the company’s capital expenditures covering work equipment and infrastructure including computers, servers, router servers, manageable hub switches, 20U rack servers, firewalls, Fortinet, and operational vehicles,” said Sony Rachmadi Purnomo, President Director of PT Global Sukses Solusi Tbk, Friday (20/8/2021).

The Company scheduled the initial offering period on 20-26 August 2021 with an estimated effective date on 31 August 2021. The estimated initial public offering period will start from 2-6 September 2021, with the date of allotment and withdrawal of funds on 6 September 2021. Further distribution and refunds will be carried out on 7 September 2021 and the Listing will be done on 8 September 2021.

GSS has appointed PT BRI Danareksa and PT Mirae Sekuritas Indonesia as underwriters.

Company Profile

PT Global Sukses Solusi Tbk is an IT company established in Yogyakarta in 2014 which began with its participation in the Indigo Startup Incubator Program organized by Telkom. GSS is engaged in providing integrated Enterprise Resource Planning (ERP) software solutions, which handle business processes from upstream to downstream (integrated end to end user business processes) for all kinds of businesses from medium to large scale.

GSS has 4 products, namely RUN System which is an ERP software product, RUN Market which is an enterprise intermediary platform, RUN iProbe which is ERP for human resource management, and iKas is a point of sales application for MSMEs.

Fundamentally, the total assets owned by GSS in December 2020 reached IDR 38.41 billion, an increase of approximately 559% from 2019 which was only IDR 6.86 billion.

In 2019 the liability of GSS was only Rp. 1 billion, and in 2020 the liability increased to Rp. 3.41 billion. Meanwhile, equity in 2019 was IDR 5.86 billion and increased in 2020 to IDR 34,995 billion.

Net profit for the year also increased by 272.73% from 2.06 billion in 2019 to Rp 7.70 billion in 2020.

Likewise, EBITDA jumped from 61.48% in 2019 to 387.15% in 2020. The increase occurred due to the increase in the Company’s revenue in line with the increase in the value of the contracts obtained by the Company.

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