TRUE to build properties in Batam
JAKARTA – PT Trinity Dinamik Tbk (TRUE) would build landed house over an 14.9-hectare land in Sekupang, Batam, Kepulauan Riau. The resources to cover this establishment would be taken out of the funds collected through IPO, which was held last week (3-4/6).
In the prospectus, quoted Friday (11/6), TRUE purchased land in Sekupang, Batam, for IDR 100 billion, whose payment would be installed in three stages. On December 23, 2020, the company had paid IDR 500 million, followed by IDR 90 billion on June 30, 2021. The remaining IDR 8.5 billion would be paid off on September 30, 2021.
Furthermore, TRUE spends IDR 22.5 billion to buy an office in APL Tower, West Jakarta. The remaining would be used for working capital, completing The Smith project in Alam Sutera, Tangerang.
TRUE is optimistic that the property industry would still be promising in the future despite facing a slight downturn since last year. This condition would improve following Government Law No.25/2020 regarding the Public Housing Funds Administration.
The company aims to secure IDR 151.39 billion from the offering of 1,513,970,000 shares with the execution price of IDR 100 each. In the said corporate action, the company also issues the same amount of series I warrant, setting the price for IDR 125 each. (LK/ZH)