Blue Bird Listed on IDX with Ticker Code “BIRD”

Published On 05 Nov 2014

Jakarta, 5 November 2014 – PT Blue Bird Tbk (“Blue Bird”), an integrated service provider with 15 subsidiaries engaged in passenger and land transportation services, is now officially listed on the Indonesia Stock Exchange (IDX) with the ticker code “BIRD”. Blue Bird issued 376,500,000 shares, or equal to 15% of issued and paid up share capital after the public offering. The price per share is Rp 6,500.

The company stock listing was conducted after Blue Bird received the go-ahead from the Financial Services Authority (OJK) to hold the initial public offering (IPO) on 29 October 2014. With the offering price mentioned above, the total funds raised by BIRD has reached more than Rp 2.447 trillion. “The funds raised from the initial public offering will be used to further expand the BIRD portfolio,” said Purnomo Prawiro, President Director of PT Blue Bird Tbk while attending the listing day at the IDX.

Blue Bird has previously conducted successful roadshows in seven financial cities: Jakarta, Kuala Lumpur, Singapura, Hongkong, London, New York, and Boston. At the end of the book building period, the company’s stock was oversubscribed.

President Director of PT Blue Bird Tbk Purnomo Prawiro explains, “The trust and prosperity of our stakeholders, including investors, are vital to ensuring Blue Bird’s business sustainability. We hope the Blue Bird IPO will be a good start to building our relationship with investors and the public. With the funds gained from the IPO, Blue Bird will not only be able to bring to fruition its expansion plans, but it will also enable us to bolster growth and maintain our long-term performance.”

Of the funds gained from the IPO, around 53.04% will be used to refinance debt, while the remaining 46.96% will be used for working capital of the company and its subsidiaries.

Financially speaking, Blue Bird routinely displays positive performance, as demonstrated by the company’s robust net revenue increasing to Rp 3.921 billion as of 31 December 2013, up from Rp 2.564 billion in 31 December of 2011 with a Compound Annual Growth Rate (CAGR) amounting to 23.7%.

From an industry standpoint, Euromonitor predicts that the market for taxi services in Indonesia measured by the Value of Consumer Consumption will grow 16.4% in CAGR to Rp 12.9 trillion by 2016.

“With the company’s recent performance and the industry’s promising prospects, as well as through the support gained from holding our IPO, we believe Blue Bird will be able to continue to provide the best transportation services around for Indonesians,” Purnomo said.

Acting as the underwriters for the Blue Bird IPO are PT Danareksa Sekuritas, PT Credit Suisse Securities Indonesia, and PT UBS Securities.

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