The financial technology (FinTech) firm affiliated with MNC Group, Achiko Ltd., listed its shares on the Swiss Stock Exchange - Photo by the Company - Photo: SGE

JAKARTA (TheInsiderStories) – The financial technology (FinTech) firm affiliated with MNC Group, Achiko Ltd., listed its shares on the Swiss Stock Exchange (SIX), it announced on Tuesday (11/12). The company raised US$62.74 million from the direct public offering scheme.

The company listed 89.63 million shares at a reference price of US$0.7 a share. The free float amounts to 41.2 percent at the time of the listing.

“Our decision to list on the SIX is a strategic choice, taken with a long-term view. Switzerland is a vibrant and growing hub for FinTech innovation with a strong and supportive regulatory environment. We are planning to open a local branch here in Switzerland to support strategic partnerships in Europe,” said Allen Wu, Chairman of Achiko in an official statement released on Nov. 8.

Achiko started its business in Indonesia in 2012 and enlarged its expansion in the regions of Asia, such as Thailand, the Philippines, Myanmar, and Vietnam. The company is a manager of Mimopay and Kryptonite services. Besides Indonesia, Achiko has branch offices in Hong Kong, Singapore, and South Korea.

The company has an experienced management team in digital business and is tested in world-class companies such as Disney, Warner Media, Samsung, Cocoa, Loen Entertainment, and others. Beside MNC Group, the company is also supported by MOX, a Chinese Venture Capital focused on the mobile sector.

DPO is different from the initial public offering (IPO), which offers its first shares directly to the public without going through an underwriter. Meanwhile, shares released in the DPO scheme are also not new shares so the old shareholders’ ownership does not be diluted in the company.

The successful technology company uses a DPO scheme, Spotify Technology S.A, which went public on the New York Stock Exchange on April 3, 2018. This success was followed by software company Slack Technologies, Inc., which carried out a similar action on June 20, 2019.

Another technology company also plans to list its shares. Indonesia’s ride-hailing company, GoJek targeting to conduct an Initial Public Offering (IPO) within the next three to four years. The firm aims to book profit before listing their share at the stock market.

So far, the unicorn has been downloaded by 125 million peoples and has more than 300 thousand merchants, 1.7 million driver-partners, and operates in 207 districts and cities of Indonesia. The digital company has also sent 529 million food and drinks through GoFood.

Written by Staff Editor, Email: theinsiderstories@gmail.com