JAKARTA - PT Koka Indonesia Tbk (KOKA), a construction service company, is allocating IDR 15 billion as capital expenditure (capex). The capex will be realised, at least, by the end of this year.

Based on the short prospectus quoted Friday (13/10), the company will spend capex to purchase heavy equipment, including 3 units of wheel loaders worth IDR 3 billion, two units of crane trucks worth IDR 7.2 billion, and two units of excavators of IDR 4.8 billion.

The allocation of capex is taken out of the proceeds of the IPO of 715.33 million shares, which took place from October 3-9. The offering price was IDR 128 per share, bringing the total proceeds to IDR 91.56 billion. Then, 17.23% of them are allocated as capex, while another 82.77% is for working capital.

PT Rimpac Daya Mitra (RDM) is the third party assigned as vendor of machine and heavy equipment (crane and excavator). Both KOKA and RDM are not affiliated. (LK/ZH)