JAKARTA - PT Jobubu Jarum Minahasa Tbk (BEER) has not yet realized its budget for the construction of a beverage fermentation factory facility until July 2023. The construction of the facility is planned for March 2023 based on a prospectus published in January 2023.

In the disclosure published on Monday (17/7), Audy Charles Lieke, President Director of BEER, conveyed plans to use the proceeds from the initial public offering (IPO) for the construction of a factory of IDR 10.74 billion from the IPO net proceeds of IDR 172.50 billion. The rest is allocated for capital expenditures of IDR 9.92 billion, and working capital of IDR 152.50 billion.

As of July 2023, realized IPO funds for capital expenditures amounted to IDR 200 million for the receipt of the purchase of land in Semarang, Central Java and working capital for supplier advance payments of IDR 142.72 billion. The remaining IDR 29.58 billion is kept in a time deposit at Bank UOB with an interest rate of 3.75% per year.

For the construction of the factory, the issuer and PT Artha Niaga Makmur Abadi (ANMU) signed a joint agreement on August 24, 2022. ANMU is not an affiliate of BEER. (LK/LM)