MCash scheduling IPO on IDX on October 30th prepares for an IPO on the Indonesia Stock Exchange (IDX) on October 31. MCash Integrasi will offer 216.98 million shares with price ranges from Rp1,300 to Rp1,450 per share or funds ranging from Rp282 billion to Rp314 billion. MCash will be the Indonesian second fintech startup to conduct IPO, on Thursday Kioson has conducted IPO on the same exchange.

Tinuku MCASH scheduling IPO on IDX on October 30th

MCash says 216.98 million shares are 25% of total capital at present. The company also said that 60% of the money from the IPO will be used for capital expenditure and 30% for buying machines, software and IT infrastructure, while 10% for employee stock allocation.

"We want to complement the distribution channel and sharpen the market penetration of our digital products, online and offline channels, modern and traditional to reach up to the bottom of society," said MCach CEO Martin Suharlie.

MCash is a subsidiary of Kresna Graha Investama (IDX: KREN), which develops a revolutionary and first digital kiosk in Indonesia that is able to present various types of physical cards including mobile SIM and e-money through registration automatically.

MChash also has other features, such as top up telephone credit, regular bill payment, mall and mart directory, co-branding, various vouchers and other promotional forms, flash sales points, e-commerce transactions and various other digital products.

The company targets the addition of 1,000 kiosks by 2017 and 10,000 kiosks by 2020 to grow higher revenues and profits in the coming years. MCash's Managing Director, Jahja Suryandy, claims earnings are growing rapidly in the last 3 years.

"Sales grew 30.8% CAGR2Y to Rp 386.4 billion in 2016 and increased +152.6% YoY to Rp 269.3 billion in 4M17. Net earnings increased 210.1% CAGR2Y to Rp2.8 billion in 2016 and +289.5% YoY to Rp 3.2 billion in 4M17," Suryandy said.