ATIC: Private Placement worth IDR 134 Billion
Innovative company, ATIC: Private Placement worth IDR 134 Billion. Anabatic Technologies, Tbk (ATIC) plans to issue new shares through a private placement worth IDR 134 Billion. Moreover, the issuer of the information technology service provider, ATIC will use its corporate action proceeds to master almost all of Computrade Technology International (CTI) shares. Based on financial reports per 3Q19, ATIC has a total of 84.25% of CTI shares.
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President Director of ATIC, Harry Surjanto said, the company will publish a total of 148.75 million new shares, or represent up to 7.93% of the issued capital. Furthermore, using assuming the price of the implementation is not less than IDR 900. As well as, ATIC has the opportunity to obtain funds up to IDR 133.87 Billion.
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In addition to, ATIC will enlarge the share ownership in CTI through the inbreng scheme, by targeting the new stock listing on 20 December 2019. The ATIC plan has all the CTI shares. As the subsidiary has the greatest contribution to sales, and has a good prospect in the coming year.
As well as, CTI offers information technology products and solutions ranging from high end information technology infrastructure, laboratory and training facilities, hardware testing, data migration services to cloud platforms. CTI net sales contributions to ATIC are 86.33% equivalent, or IDR 3.41 Trillion per 30 September 2019. The number grew compared to the previous year, equivalent to 76.41% or IDR 2.85 Trillion.
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Furthermore, ATIC wants ownership on Computrade Technology up to 99.99% of all capitals placed and deposited. CTI is also important to support the ATIC step that is an expansion to the business of financial Technology (fintech). As CTI has acquired three fintech companies, one of which is digitalexchange.id.
Moreover, ATIC also developed a fintech business called IKI Modal (IKI Karunia Indonesia) which already has 150,000 partners in Indonesia. IKI Modal provides payment point online Banking (PPOB), remittance and peer to peer (P2P) landing for Micro Small and Medium Enterprises (MSME).
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On the other hand, ATIC expansion to fintech segments still overwhelm their finances. Last, ATIC pushing the increased burden of the effort up to suppress profits. Based on the financial report per 3Q19, ATIC gross profit amounted to IDR 629.29 Billion, or only grew 9.38% YoY. Meanwhile, the operating expenses rose from IDR 426.03 Billion in 3Q18 to IDR 478.66 Billion in 3Q19.