JAKARTA – Mining company PT Petrindo Jaya Kreasi Tbk (CUAN), owned by Prajogo Pangestu, announced the remaining funds from its initial public offering (IPO) at IDR 118.29 billion.

Michael, President Director of Petrindo, in a disclosure on the Indonesia Stock Exchange (IDX) on Thursday (16/1), stated that the remaining IPO funds of IDR 118.29 billion are currently held in current accounts at PT Bank Mandiri (Persero) Tbk (BMRI) and PT Bank Central Asia Tbk (BBCA), with interest rates of 3-4% per annum.

Petrindo Jaya Kreasi was officially listed on the IDX on March 8, 2023. Through the IPO, the company raised IDR 371.8 billion. After deducting issuance costs of IDR 7.86 billion, the company recorded net proceeds of IDR 363.93 billion.

Based on the report on the use of IPO funds, CUAN has so far used IDR 27.1 billion for capital expenditure in the construction of an Intermediate Stockpile (ISP). This amounts to only 18.63% of the total allocation of IDR 145.39 billion as stated in the prospectus.

Meanwhile, the capital injection into its subsidiary, PT Tamtama Perkasa, has been fully realised in accordance with the plan, amounting to IDR 218.54 billion.

As of today's trading, the company's shares increased by 2.57% to IDR 13,950 per share as of 11:15 AM WIB. (DK)