Ginting Jaya spends Rp 200 billion of its IPO proceeds to purchase 7 rigs
JAKARTA - PT Ginting Jaya Energi Tbk (WOWS) has used Rp 200 billion of its IPO proceeds to purchase several new and used rigs. In the IPO itself, which took place on 8 November 2019, the company managed to obtain Rp 323.66 billion.
As quoted from the company's disclosure published on Friday (6/3), previously, the company only planned to spend Rp 197.43 billion to purchase those rigs, which consists of four new rigs and three used rigs.
Besides that, the company also spent its IPO proceeds to purchase fixed assets (Rp 54.21 billion) and as working capital (Rp 41.75 billion). The fizxed assets purchased by the company including land, buildings, and workshops.
The company still holds Rp 27.69 billion of its IPO budget, which is planned to be used to pay the company's debts. (LK/AR)