JAKARTA – PT Ifishdeco Tbk (IFSH) has set aside 27.97% of the proceeds from its initial public offering (IPO), which took place on 29 November 2019. According to the plan, the IPO proceeds were allocated for the Mining Business Permit (IUP) at IDR 136.41 billion and working capital at IDR 45.47 billion.

In a disclosure on Tuesday (25/2), Iwan Luison, Director of IFSH, stated that IDR 50.87 billion of the IPO funds remain. These funds are deposited with PT Bank Mandiri (Persero) Tbk (BMRI), earning 2% interest per annum for a term of 6 months.

Meanwhile, IPO funds that have already been utilised amount to IDR 131 billion or 72.02% of the net IPO proceeds of IDR 181.88 billion. The details include the acquisition of IUP for IDR 64 billion and working capital for IDR 67 billion.

On the other hand, the company’s stock price rose by 2.60% or IDR 20 to IDR 790 on Tuesday afternoon (24/2). However, compared to last week (19/2), its price has corrected by IDR 5 or 0.63% from IDR 795 per share. (LK/ZH)