JAKARTA - PT Semacom Integrated Tbk (SEMA), a new and renewable energy (NRE) manufacturer, had realised IDR 55.22 billion of the proceeds of initial public offering until June 2023. The remaining amount of the IPO proceeds clocks up to IDR 2.90 billion out of the total IDR 587.12 billion.

Riany Sandra Widjaja, Director of SEMA, said that the IPO proceeds have been used as working capital, including inventory purchasing, research and development (R&D) funds, and promotion. “The remaining proceeds of IPO were stored in a current account in BCA, a third party, with an interest rate of 0.05% per annum,” Widjaja said in the information disclosure quoted Monday (10/7).

SEMA conducted IPO on December 31, 2022, by issuing 62.46 billion shares, raising IDR 62.46 billion at the end of this corporate action.

In 2022, this issuer scored revenue of IDR 149.7 billion, declining from IDR 198.2 billion seen in 2021. The contributors of the revenue consist of split panels, lithium batteries, and installation services.

The net profit was recorded at IDR 11.8 billion, shifting from IDR 19.7 billion. The decline resulted from COVID-19 pandemic crisis and price war as new competition rises. (LK/ZH)