JAKARTA - PT Itsec Asia Tbk (CYBR) eyes extra capital via its initial public offering (IPO) of 1 billion shares to strengthen its cybersecurity teams in three countries: Indonesia, Singapore, and Australia.

According to the short prospectus quoted Tuesday (8/8), this issuer had conducted its IPO, setting the price to IDR 100 per share, last week (2-4/8). Then, CYBR lists its stock on Indonesia Stock Exchange (IDX) today (8/8). The IPO proceeds are predicted to reach IDR 100.87 billion.

CYBR’s plan is to allocate 87% or approximately IDR 87.75 billion of the IPO proceeds to working capital, reinforcing its cybersecurity teams, building new teams, renting office spaces in several cities, forming a research and development (R&D) for device upgrade and new cybersecurity services. Then, another 13% will be utilised as capital expenditure (capex) to extend its cybersecurity team, purchase laboratory equipment, and expand its market in various cities.

Prior to IPO, CYBR’s authorised capital was recorded at IDR 544.08 billion, while its issued and paid-up capital was IDR 136.02 billion. The stock in its portfolio was worth IDR 408.06 billion. INV Management Pte Ltd controlled 57.70% of the shares, followed by MB Investment Management Pte Ltd of 32.59%, as well as Andri Hutama Putra, Bambang Susilo, and Bima Kurniawan, who each claimed 0.70%, Eko Prasudi Widianto of 0.46%, Doni Mora of 0.08%, and others of 7.07%. (LK/ZH)