Supports Green Economy, BRIDS Becomes Underwriter for UNTD's IPO Worth IDR400 Billion

Jakarta, January 18th, 2024 – BRI Danareksa Sekuritas (“BRIDS”) officially appointed as one of the underwriters for the initial public offering (IPO) of PT Terang Dunia Internusa Tbk (UNTD) with an offering price of IDR170 to IDR240 per share, with the opportunity to gain fresh funds of up to IDR 400 billion.

UNTD, known as the manufacturer of the "United" brand, is a manufacturer of bicycles, electric bicycles, e-Mopeds, e-Motors or electric motorbikes, with more than 30 years of experience, and has various competitive advantages such as a wide distribution network spread across Indonesia through 490 dealers, quality products at affordable prices, strong growth potential, and government support for the electric vehicle industry.

Director of Investment Banking Capital Market BRIDS, Kevin Praharyawan, revealed that UNTD is one of the pioneers in the bicycle industry in Indonesia which continues to innovate and develop until now it has e-Moped and e-Motor products. With this experience, UNTD can produce quality products and consistently show a good track record in the industry.

"UNTD's good track record is proven by the Company's financial performance up to July 2023 which recorded net sales of IDR 479.7 billion, a gross profit margin of 22.9%, and a return of equity (ROE) of 21.4%. "Being one of the UNTD IPO underwriters is also a form of BRIDS support for UNTD to advance the development of the green economy in Indonesia," concluded Kevin.

For information, UNTD will release 25% of the paid-up capital after the initial public offering of shares with a maximum of 1,666,666,700 shares with a nominal value of IDR 25 per share. Investors can express their interest via e-IPO (https://e-ipo.co.id) during the initial offering (bookbuilding) period which takes place on 11-22 January 2024, while the public offering period is planned to take place on 1-5 February 2024 UNTD is expected to be listed on the Indonesia Stock Exchange (BEI) on February 7 2024.