JAKARTA - PT Panca Mitra Multiperdana Tbk (PMMP) will allocate around Rp 78.86 billion to build its eighth seafood processing plant. This was announced by PMMP Director Martinus Soesilo at the company's IPO on Friday (18/12).
"The company will use 66.50% [of its IPO proceeds] as capital expenditure to develop a new processing plant and purchase machinery and supporting facilities to increase the production of pre-fried breaded products. The remaining 33.50% will be used as working capital," said Mr Soesilo.
PMMP debuted on the Indonesia Stock Exchange (IDX) with 353 million shares at an exercise price of Rp 336 billion. In the corporate action, the company raised Rp 118.6 billion with Rp 790 billion in market cap. PT Sinarmas Sekuritas and PT Mirae Asset Sekuritas have been appointed as the underwriters. (LK/MS)