Indonesia’s VKTR completes IPO, to build electric bus plant
By Will Pulson - 8th August 2023
VKTR’s BYD-built electric buses operating in Jakarta
Indonesia / China - Electric bus supplier, PT VKTR Teknologi Mobilitas Tbk (VKTR), owned by Jakarta-based Bakrie Group, successfully launched an initial public offering (IPO) on the Jakarta Stock Exchange last month as it looks to play a major part in the country’s transition to zero-emission vehicles.
VKTR raised IDR 875bn (USD59m) through the floatation of 20% of its equity on the country’s main IDX exchange, which the company states it will use for capital investments as well as to return cash to its shareholders. The remaining 80% of the shares are retained by Bakrie Group companies.
