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Agro Yasa will use 82% of its IPO proceeds as working capital

13 February 2020 08:06

JAKARTA - PT Agro Yasa Lestari Tbk (AYLS) will use 82.28% of the proceeds from its initial public offering (IPO) as working capital, and the remaining funds will be used to pay the company's debt to PT Bank Danamon Indonesia Tbk (BDMN).

For information, the company obtained Rp 25.87 billion from its IPO.

As quoted from a press release received by the media on Wednesday (12/2), Amoreno, Corporate Secretary of PT Agro Yasa Lestari Tbk (AYLS) said that in the IPO, his party issued 258,703,200 new shares at a price of Rp 100 per share. "In addition, the company will also issue 206,962,560 series I warrants or 34.80% of the company's issued and paid-up capital," he said.

According to him, series I warrants were given free of charge to new shareholders. Holders of the series I warrants do not have rights as shareholders, including the right to dividends, as long as the warrants have not been converted into shares. (LK/AR)

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