JAKARTA - PT Emdeki Utama Tbk (MDKI), a carbide chemical producer, has realized IDR 60.36 billion from the initial public offering (IPO) of IDR 175.29 billion. This was conveyed by Vincent Secapramana, Director of PT Emdeki Utama Tbk (MDKI) in an information disclosure quoted on Monday (8/3).
He conveyed that the IPO proceeds are planned for the construction of the Ferro Silica factory of IDR 49.55 billion, the Carbide Desulphuriser factory of IDR 80 billion, working capital for the Silica Alloy and Carbide Desulphuriser plants of IDR 23.50 billion, and working capital for the production of Calcium Carbide of IDR 22.27. billion
As of December 2020, the IPO funds that have been disbursed for the construction of the Ferro Silica factory amounted to IDR 5.18 billion, the construction of Carbide Desulphuriser in Gresik and Cilegon of IDR 32.94 billion, and working capital for the production of Calcium Carbide of IDR 22.22 billion. Meanwhile, the working capital for the Silica Alloy and Carbide Desulphurised factories has yet to be realized.
The remaining unrealized funds were kept as deposits at Bank Mandiri, BRI, and BTN with interest rates varying from 4.50%-7.50% with a yield of around IDR 5.7 billion. MDKI conducted an IPO on September 25, 2017 with the proceeds of 184.35 billion, including the cost of the public offering of IDR 9.05 billion. (LK/LM)