JAKARTA - PT Harta Djaya Karya Tbk (MEJA) secures extra working capital of IDR 12.71 billion from the reallocation of its asset purchase and infrastructure lease budget from IPO proceeds. With this extra allocation, the entire IPO proceeds, worth IDR 45.44 billion will be leveraged as working capital.

Richie Adrian Hartanto, President Director of MEJA, confirmed that the allocation of entire IPO proceeds as working capital had been approved by shareholders yesterday (25/11).

“The decision gave approval regarding the reallocation of entire IPO proceeds to working capital,” Hartanto said, quoted today (26/11).

For the record, MEJA reported proceeds of IDR 45.44 billion from its IPO on February 12, 2024. Initially, 72% of total IPO proceeds, or IDR 32.71 billion, are allocated as working capital. Then, another 24%, or IDR 10.90 billion, goes to asset purchase, while building-vehicle lease as well as information and network system development utilises IDR 1.81 billion or 4%.

Until June 2024, the realisation of IPO proceeds reached IDR 8.72 billion, or 19%. The remaining IDR 3.71 billion has been deposited in the current account in PT Bank Central Asia Tbk (BBCA). (LK/ZH)