Flourishing Cloud Marketing Business from DMM’s IPO

By Editorial Team 23/09/2019
Summary

PT Digital Mediatama Maxima (DMM) plans to list its shares on the Indonesia Stock Exchange (IDX) on 21 October, offering as many as 2,692,307,700 shares or 35 percent of the paid-in capital in the initial public offering (IPO) with a nominal value of Rp 10 per share. For the initial plan, the startup company will conduct a public offering period on October 11-15, 2019.

DMM could reap Rp 600 billion of proceeds from the IPO. The cloud-marketing signage solution provider plans to use 75 percent of the proceeds to increase working capital, such as purchasing merchandise inventories and project-supporting peripherals. Another 20 percent would be used to increase investment in information technology, like sustainable development and supporting ecosystems, while the remaining five percent will be allocated for human resources development.

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