Global Teleshop eyes Rp 3.1t in revenues
Telecommunication devices retailer PT Global Teleshop (GLOB) is targeting Rp 3.1 trillion (US$3.1 trillion) in revenues and Rp 120 billion in net profits this year, the firm’s president director Evy Soenarjo said on Tuesday.
Last year, the company booked Rp 1.86 trillion in revenues and Rp 77.5 billion in net profits.
To meet the target, Global plans to diversify its products and establish an additional 60 to 100 branches this year, Evy said.
As of the end of last year, the firm had 313 branches.
From July 2 to 4, Global offered 111.11 million shares, or 10 percent of its enlarged capital, on the stock market. The shares sold at Rp 1,150 apiece.
“The capital expenditure comes from IPO [initial public offering] proceeds and bank loans,” she said, as quoted by kontan.co.id.
The company booked Rp 127.77 billion from the IPO proceeds.
In its debut trading on the Indonesia Stock Exchange (IDX) on Tuesday, GLOB shares remained at Rp 1,150 per share as of 12:46 p.m., after previously jumping to Rp 1,250 apiece. (yps)