JAKARTA – PT Platinum Wahab Nusantara Tbk (TGUK), the managing company of Teguk beverage chain, has realised IDR 110.44 billion from its initial public offering (IPO) held in July 2023.

Maulana Hakim, President Director of TGUK, stated that the company raised IDR 112.17 billion from the IPO on 10 July 2023. The funds were allocated to working capital, amounting to IDR 44.86 billion, and the expansion and development of stores and food trucks, totalling IDR 67.30 billion.

The fund allocation aligns with the plan outlined in TGUK's prospectus. The remaining unutilised funds, amounting to IDR 1.67 billion, have been placed in a Bank Index deposit for a year at an interest rate of 4.25%.

As of December 2024, the company has 3.57 billion shares listed, with a shareholding structure comprising 70% controllers and 30% non-controllers. There are 5,140 shareholders in total, with the ultimate beneficiaries of the shares being Najib Wahab Mauluddin and Maulana Hakim. (LK/ZH)