ECF Santara Startup Now Has a Secondary Market, A Place for Buying and Selling SME Business Shares

Startups equity crowdfunding (ECF) Santara inaugurated the Secondary Market for buying and selling SME business shares, officially starting to be accessed tomorrow, March 19, 2021 until April 1, 2021. In this first period, 13 businesses (stock issuers) will consist of livestock, fisheries, F&B, beauty and more.

Santara Co-Founder & CEO Reza Avesena explained, the Secondary Market can be a place to exchange shares, investors can buy and sell their shares. On the other hand, it becomes a second chance for investors who previously did not have time to buy these shares in the primary market.

“This Secondary Market is a big momentum for Santara users, especially based on POJK 57 rules, the Secondary Market can only be done twice a year. So this is an opportunity for investors (users) to exit or enrich a proven portfolio of business stocks survive” he explained in an official statement, Thursday (18/3).

A total of 13 issuers of shares included in this first period are confirmed to have met the requirements based on the rules and the OJK. Among them, already listing at Santara for a minimum of one year or more, meet the administrative requirements, and have entered two dividend distribution periods.

Fully transacted through the Santara application, users can sell and buy shares in the secondary market from Monday to Friday during operating hours at 09.00-17.00 WIB.

Users are provided with information and data related to the company's performance over the last few years, along with future business development plans through various features in the application. All of the information presented can be used as consideration for users in making purchasing decisions.

Separately when contacted DailySocial, Reza said that before the Secondary Market was officially released on the application, the company had conducted educational activities since last February, both in terms of insight and technicality to Santara users.

"We have disseminated various information ranging from definitions, working methods, available features, to the rules that form the basis for the implementation of the secondary market through various channels ranging from social media, email, to social media. webinar. "

From a technical point of view, before actually being used, the company has held an Open Beta Testing (OBT) period in February 2021. During the OBT period, users can try and learn about the features available on the secondary market, so hopefully users are familiar and ready to use it. features in the secondary market tomorrow.

If nothing goes wrong, Santara plans to hold a secondary market for the second period in the last quarter of this year. Before Santara, such a player Bizshare already introduced the Secondary Market in early February.

This year's plan

He further explained, since Santara operated until March 18, 2021, there were 83 businesses that had received funds in Santara with a total funding of more than Rp130 ​​billion. The business is spread across 42 cities in Indonesia.

Meanwhile, the total registered investors reached 270.319 people spread across almost all provinces in Indonesia and several cities abroad. The five largest locations are West Java (21.21%), East Java (16.07%), DKI Jakarta (12.62%), Central Java (12.24%), Banten (7.55%).

This year, the company targets an increase of up to 10 times from last year's achievement, approximately chasing a total of 400 publishers.

Regarding plans development towards crowdfunding securities (SCF), Reza explained that currently Santara is in the finalization stage of the SCF licensing process. His party is also in intensive communication with various parties, from OJK to DSN MUI regarding the fulfillment of SCF requirements.

"Meanwhile, from the platform side, as of the second week of March, we have completed the development stage. Parallel to the licensing process, we have started implementing the new rules at SCF on the Santara platform,” he concluded.