JAKARTA - PT Aman Agrindo Tbk (GULA), a sugar producer, has kept the remaining funds from the initial public offering of IDR 28.80 billion. SUGAR's IPO proceeds on August 3, 2022 were recorded at IDR 50.34 billion.

In the disclosure published on Friday (14/7), Andreas Utomo, President Director of GULA, said that the realized IPO proceeds amounted to IDR 21.54 billion, consisting of working capital of IDR 10.66 billion and business development of IDR 11.46 billion.

The planned allocation of funds in the IPO prospectus is working capital of 20% or IDR 10.66 billion, purchase and installation of machinery 57% or IDR 28.88 billion, and construction of factories and other facilities 23% or IDR 11.39 billion. As of June 2023, the realization of funds for the construction of factories and other facilities is IDR 3.20 billion and the purchase and installation of machinery is IDR 8.26 billion.

The remaining IPO funds were kept at PT Bank Central Asia Tbk (BBCA) in the amount of IDR 28.77 billion and PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) IDR 28.23 million. (LK/LM)