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View all search resultsCrypto bourse holding firm Indokripto prepares for IPO
The company plans to allocate approximately 85 percent of the IPO proceeds toward operational expenditures of its subsidiary Crypto Futures Exchange (CFX). The remaining 15 percent will be channeled to its depository subsidiary PT Kustodian Koin Indonesia (ICC) for similar purposes.
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Representations of cryptocurrency Bitcoin are seen in this illustration photo taken on Nov. 25, 2024. (Reuters/Dado Ruvic)
H
omegrown digital asset holding company PT Indokripto Koin Semesta is planning for an initial public offering (IPO), aiming to raise up to Rp 231.6 billion (US$14.1 million) to fund operational expenditures on its subsidiaries.
Indokripto is a holding company that runs a futures exchange and a crypto asset exchange, which will be listed under ticker code COIN.
The company plans to allocate approximately 85 percent of the IPO proceeds toward operational expenditures of its subsidiary Crypto Futures Exchange (CFX). Almost half of the fund will cover technology infrastructure costs, such as a cloud service provider and IT security, with the rest earmarked for the exchange’s liquidity provision fee and other expenses.
The remaining 15 percent will be channeled to its depository subsidiary PT Kustodian Koin Indonesia (ICC) in the form of operational expenditures for ongoing operations, the company stated.
It seeks to offer 2.2 billion shares at Rp 100 to Rp 105 apiece in its IPO, which is equivalent to 15 percent of its outstanding shares. The book building period is set to begin on June 23 to June 25, according to its prospectus published on Saturday.
Indokripto was first established in 2022, focusing on serving as a holding company and consultation management for its subsidiaries in business planning, business strategy, operational support and financial advisory.
Read also: IPOs set to rebound in 2025 after multiyear low in 2024
