Jakarta – Officially becoming a listed company on the Indonesia Stock Exchange (IDX), PT Rohartindo Nusantara Luas Tbk (TOOL) received fresh funds of Rp52.07 billion.

Ronald Hartono Tan, the president director of Rohartindo Nusantara, stated that the company is hopeful that it can increase sales turnover in the upcoming years, given the public investors' enthusiasm for TOOL and the rapid level of demand for Airwheel robot suitcases, which is currently popular.

"Funds from the IPO will be used to purchase assets in the form of three shop houses and two warehouse units, as well as working capital for business development," he said in a statement issued Tuesday (9/8) in Jakarta.

According to Ronald, the company sees that the consumer sector business opportunity in the field of tools and equipment for household needs for the lower middle class is still high.

"The business potential in the field of household tools and equipment is very large. We started our business activities conventionally, or offline, through agents and door-to-door re-sellers. Along with the development of technology, the company started selling online," he explained.

By 2021 the company has distribution areas in Jakarta, Surabaya, Bandung, Sulawesi, Sumatra, Bali and Kalimantan with more than 1000 distributors and re-sellers.

The product brand portfolio currently owned by the company is Nankai, Varem, Kovea and American.