JAKARTA - PT Nusantara Properti Internasional Tbk (NATO) allocated its IPO fund of Rp 206 billion to expand the business of its subsidiaries. In the IPO that was held on 14 January 2019, the company offered 2 billion shares with a price of Rp 108 per share.
Gde Putu Adnawa, President Director of PT Nusantara Properti Internasional Tbk (NATO) stated that the fund was transferred to its subsidiaries, 80% to the PT Nusantara Mandala Prima (NMP) and 20% to the PT Nusantara Jaya Realti (NJR).
The company will use 37.5% of the fund to give a loan to its subsidiary, PT Citra Multi Jaya (CMJ). The loan will be used to finance the construction of Takabonerate Resort in Selayar Island, purchase equipment, and as working capital. The rest 62.5% will be used by another subsidiary, PT Mitra Graha Tangguh Perkasa (MGT) to acquire land in Rote Island, construct Surfer Paradise Resort, purchase equipment, and as working capital.
NJR will transfer the fund to its subsidiary, PT Roku Bali Internasional Indonesia (RBII) to revitalise the Seri Villas building. The rest of the fund will be used to repay the loan of its subsidiary, PT Mimpi Design to PT Bank Victoria. (LK/AR)