JAKARTA - PT Nusantara Sawit Sejahtera Tbk (NSSS) realized 53.42% of the net proceeds from its initial public offering of IDR 430.51 billion. The largest realization was for capital expenditure of its subsidiary, PT Borneo Sawit Perdana (BSP).

In an information disclosure quoted on Friday (12/1), Teguh Patriawan, President Director of NSSS said that the remaining IPO funds amounting to IDR 200.49 billion were placed in a checking account with an interest rate of 0.5%-1.9% per year.

The realization of Initial Public Offering (IPO) funds included BSP capital expenditure to build a palm oil factory of IDR 128.29 billion, purchase of agrochemical fertilizer IDR 40.46 billion, and construction of a special terminal of IDR 13.77 billion. For working capital for PT Prasetya Mitra Muda (PMM) related to purchasing fertilizers and agrochemicals, for PT Bina Sarana Sawit Utama (BSSU) it is IDR 1.44 billion for the land acquisition process and financing for the oil palm plant nursery process IDR 400 million.

According to the plan, the allocation of funds includes, among other things, BSP capital expenditure of IDR 128.29 billion, construction of a special terminal IDR 13.77 billion, purchase of fertilizer IDR 40.46 billion, BSSU land acquisition IDR 67.59 billion, BSSU oil palm plant nursery IDR 32. 28 billion, financing and fertilization during the planting period IDR 102.46 billion, and PT Prasetya Mitra Muda (PMM) working capital IDR 45.63 billion.

The remaining IPO funds amounting to IDR 200.49 billion are placed in a checking account with an interest rate of 0.5% -1.9% per year. (LK/LM)