JAKARTA – After conducting its initial public offering (IPO) in 2017, PT Emdeki Utama Tbk (MDKI) still holds onto IDR 114.93 billion of its IPO proceeds. Said amount is still stored in deposits and current accounts in banks.

In the information disclosure quoted Wednesday (12/7), Happy Hapsoro, Corporate Secretary of Emdeki Utama, said that IDR 106.50 billion of the remaining proceeds is deposited within three-months period with an interest rate of 5%, whereas another IDR 8.42 billion are stored in current accounts until June 2023.

During its IPO on September 25, 2017, MDKI collected IDR 175.29 billion of fresh funds. The realised funds clock up to IDR 60.36 billion, IDR 5.18 billion of which was spent on building the ferrosilicon plant. Another IDR 32.94 billion was used in carbide desulfuriser plants in Gresik and Cilegon, while another IDR 22.22 billion was allocated as working capital to produce calcium carbide. (LK/ZH)