Envy Technologies Indonesia (IDX:ENVY) IPO set July 8

Mohd Sopiyan bin Mohd Rashdi, ENVY CEO (center) with Directors of PT Envy Technologies Indonesia Tbk on sidelines at 'MiniExpose' for PT ENVY's Initial Public Offering (IPO) July 8.

JAKARTA, Jun 22, 2019 - (ACN Newswire) - PT Envy Technologies Indonesia Tbk (IDX: ENVY), InfoTech service provider, has announced its initial public offering (IPO) on July 8. ENVY plans to offer 600 million (.6 billion) new shares, or 33% of its increased paid-up capital, including 18 million share Employee Stock Allocation (ESA), together with 1,200 million (1,2 billion) normal shares subsequently offered on the secondary market on behalf of Company shareholders.

ENVY plans to register 1,800 million (1,8 billion) ordinary shares on the Main Board of the Indonesia Stock Exchange (IDX) after the IPO on behalf of the issued and fully paid capital. ENVY estimates it will raise between Rp 240 - Rp 360 billion ($17 - 25 million) in funds, with the proposed share price of around Rp 350 - Rp 475 per share.

Mohd Sopiyan bin Mohd Rashdi, Chief Executive Officer of ENVY, said his company had successfully presented its 'mini expose' (company IPO presentation) at the Stock Exchange on Tuesday. The Financial Services Authority (OJK) responded by opening the subscription period on June 27th, with the new shares to begin trading on the IDX Main Board on Monday, July 8th 2019.

Toto Sosiawanto, Senior Vice President of PT Erdikha Elit Sekuritas and the issue's underwriter, said the distribution plan, after discounting IPO expenses, let ENVY use 31.40% for its system integration and information segment, 24.56% for its telecommunication and system integration segment, 2.11% for product research and development, and Rp 48 billion to draw down company debt with the remaining balance for operations, general expenses and administration.

ENVY booked revenue of Rp 240 billion ($17 mil) in 2018 with net income at Rp 80,35 billion ($6 mil). This was a sharp increase from income to Rp 3,18 billion in 2017, reflecting strong gains in ENVY's system integration and information segment of Rp 68,28 billion, and again in its telecommunication integration system segment to Rp 10.27 billion, an increase of 4,272%, compared to Rp 240 million the end of 2017.

"Our 2019 business strategy has the Company aiming at strengthening its position as a digital information security service. We foresee an exponential development in big data services and digital services for the financial sector, along with a strengthened position as partner to many companies," Sopiyan stated.

"We are optimistic that net income will top Rp 102,76 billion this year. Next year's target will be set higher, at Rp 105,40 billion. This year's revenue forecast stands at Rp 391,46 billion, and we expect to reach Rp 545,88 billion in 2022," added Sopiyan.

ENVY's post-IPO shareholdings place 25,50% with Local Companies, 43.52% with Foreign Companies, and 33.33% by the Public.

In the System Integration and Information Segment, ENVY offers the production of a complex digital information production system service, including designing and building an application which is adjustable, and afterwards integrate it with hardware, software, and communication system. A few clientsusing the company's service since 2009 are Cranium Ventures, Polantas, PillarTech, Inti, Dinamika Utama Jaya, Teknoglobal, Zamrud Technology, Dgensia, and Goldust.

In the Telecommunication System Integration Segment, ENVY is involved in installation of hardware in the core network, communication data system, and digital transmission system. Clients who had been trusting ENVY since 2015 include XL Axiata, Indosat Ooredoo, Telkomsel, Jabartel, and AltoBridge.

In the Digital Cyber Security Business Segment, ENVY provides clients protection service system which are cyber security solution and client monitoring system. Clients who have been trusting ENVY in this sector since 2005 are Astra International, Bank Danamon, Bank CIMB Niaga, Mandiri, Bank Index, JNE, Maybank, Danareksa, Commonwealth, MegaJiwa, and BCA Life.

Schedules of IPO ENVY are as follows:
- Estimation of Initial Offer Period: June, 17th until 21st 2019
- Estimation of Effective Date: June 27th
- Estimation of Public Offering Period: July, 1st and 2nd 2019.
- Estimation Date of Allotment: July, 4th 2019
- Estimation of Shares Distribution Date Electronically: July, 5th 2019
- Estimation of Errand Refund Date: July 8th, 2019
- Estimation of Recording Date at Indonesia Stock Exchange: July, 8th 2019

PT. Envy Technologies Indonesia, Tbk.
Previously, ENVY was PT. Scan Nusantara, established on September 27th 2004. ENVY services in Information Technology Service Segment, Informatics Integration System Segment, and Telecommunication Integration System Segment. www.envytech.co.id

For further information:
Ayu Perwitasari, Director
PT Envy Technologies Indonesia Tbk
T. +62 21 576 1437
E. ayu.perwitasari@envytech.co.id


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