JAKARTA. PT Jasa Armada Indonesia Tbk (IPCM) reported that it had spent 29.3% (Rp 135.51 billion) of its IPO proceeds, mainly for investment and working capital.
Rizky Pribadi Hasan, Director of Finance and HR of IPCM, said that the company still held Rp 304.02 billion of its IPO proceeds. The company had used Rp 91.56 billion for capital expenditure and Rp 43.95 billion for working capital.
The remaining IPO proceeds of the subsidiary of PT Pelabuhan Indonesia II (Persero), were placed in deposit accounts in two affiliated banks, PT Bank Mandiri (Persero) Tbk (BMRI) and PT Bank Tabungan Negara (Persero) Tbk (BBTN), and 1 non-affiliated bank, PT Bank CIMB Niaga Tbk (BNGA).
The total amount of funds placed in BMRI is Rp.104.02 billion with an interest rate of 6% per year, Rp 100 billion in BBTN with an interest rate of 7.15% per year, and Rp 100 billion in BNGA with an interest rate of 6.25% per year. (KR/AR)