Kencana Energi realised IDR 239.98 billion of its IPO proceeds
JAKARTA – PT Kencana Energi Lestari Tbk (KEEN) has realised IDR 239.98 billion of the total funds gathered from the initial public offering (IPO) held in September 2019. Giat Widjaja, President Director of Kencana Energi, reports this in the information disclosure, quoted Monday (12/7).
It is mentioned that IDR 113.99 billion of the total funds were allocated to the new business development. Another IDR 69.99 billion goes to PT Bangun Tirta Lestari’s (BTL) working capital, while IDR 55.99 billion is allotted to PT Nagata Dinamika Hidro Madong’s (NDHM) capital expenditure. The remaining IDR 40 billion is then deposited to a six-month tenor saving account with an annual interest rate of 5%.
KEEN had performed an IPO, issuing 3,666,312,500 shares, comprising 2,933,050,000 units of founder’s shares and 733,262,500 units of publicly offered shares. The shares were set to IDR 396 each, thus allowing the company to collect IDR 279.98 billion in total after subtracting the cost. (LK/ZH)