JAKARTA. PT Esta Indonesia Tbk (NEST), a swallow farm company, has provided extra capital to one of its subsidiaries, PT Tunas Esta Indonesia (TEI).

Aulia Desy Deria, Corporate Secretary of NEST, confirmed that this extra capital investment channelled to TEI is IDR 6 billion. This will boost TEI’s issued and paid-up capital to IDR 9.5 billion from the previous IDR 3.5 billion.

“All the new shares have been taken over by NEST,” added Deria in the official disclosure.

According to IDNFinancials data, the extra capital from NEST to TEI is in line with the IPO proceeds’ utilisation plan stated in the prospectus. NEST has indeed planned to use 18.57% of IPO proceeds as capital investment to TEI.

TEI is known to be engaged in the swallow farming segment. Furthermore, it also manages wholesale of agriculture products and other livestock. (KR/ZH)