JAKARTA – PT Jantra Grupo Indonesia Tbk (KAQI) has allocated approximately IDR 36.98 billion in capital expenditure to open five workshops for four-wheel vehicles following its official listing on the stock market, Monday (10/4).

According to the brief prospectus, the company offered 450 million shares in its initial public offering (IPO) at IDR 118 per share, targeting to raise IDR 53.10 billion.

Of the IPO funds, 69.65% or approximately IDR 36.98 billion will be allocated for capital expenditure, around 13.19% or IDR 7 billion for operational expenses, and the remainder as loans to its subsidiaries.

The capital expenditure will be used to purchase land and establish a workshop on a 1,940 m² plot in Bona Indah, South Jakarta. Additionally, four branch workshops will be opened in Bekasi and Bandung, West Java; Surabaya, East Java; and Semarang, Central Java. (LK/ZH)