JAKARTA - PT Teladan Prima Agro Tbk (TLDN) has realized 29.41% of the funds from the net proceeds of its Initial Public Offering (IPO), amounting to IDR285.60 billion as of December 2024. This IPO fund realization report will be one of the agenda items for the Annual General Meeting of Shareholders (AGMS) on April 24, 2025.

Quoting from the Disclosure of Information on Wednesday (April 2), Arya Wibisana, Corporate Secretary and Legal of TLDN, stated that the company has six agenda items for the AGMS, including the approval of financial reports, use of net profit, appointment of public accountants and accounting firms, changes to the composition of the board of commissioners and directors, determination of director and commissioner remuneration for 2025, and approval of the IPO fund usage realization report.

"Shareholders entitled to attend the AGMS are based on the Shareholder List (DPS) as of March 27, 2025," he said.

TLDN conducted its IPO on March 31, 2022, raising IDR285.60 billion. These funds were planned to be allocated approximately 71% for the acquisition of palm oil companies, with capital contributions to PT Telen Prima Sawit (TPS) and PT Daya Lestari (DL) at 15% and 14%, respectively.

As of the end of 2024, the capital contributions to TPS and DL were 15% and 14%, respectively, which were used for capital expenditure. The remaining IPO funds were placed in PT Bank Mandiri (Persero) Tbk (BMRI) with an interest rate of 6% per year. (LK/LM)