JAKARTA. PT Bali Bintang Sejahtera Tbk (BOLA), Bali United soccer club owner, still holds the remaining proceeds of its initial public offering (IPO) of IDR 257.36 billion. It means that it only uses up approximately 24% of the entire raised funds.
Yabes Tanuri, President Director of BOLA, claims that the realised proceeds amount to IDR 80.41 billion. Specifically, IDR 11.01 billion covers facilities’ purposes, IDR 9.14 billion is allocated to business purposes, IDR 3.91 billion to sports purposes, IDR 37.46 billion to its subsidiaries, while another IDR 18.89 billion is channelled to its working capital.
As an additional record, BOLA launched its IPO in Indonesia Stock Exchange two years ago on June 17, 2019. The total funds raised in the said action are reported to reach IDR 350 billion, minus the IPO costs of IDR 12.23 billion.
Currently, BOLA stores its remaining proceeds in several investment instruments. They include investments in PT Bank Central Asia Tbk (BBCA) of IDR 42,7 billion, PT Bank INA of IDR 53,7 million, PT Bank Mega Tbk (MEGA) of IDR 242,62 million, PT Bank QNB of IDR 225,97 million, Bank INA’s deposits of IDR 15 billion, MEGA’s deposits of IDR 80,13 billion, PT Buana Capital Sekuritas of IDR 29 billion, PT Nusadana Investama Indonesia IDR 30 billion, and Sinar Mas Multifinance’s Bonds of IDR 60 billion. (KR/ZH)