JAKARTA – PT Caturkarda Depo Bangunan Tbk (DEPO), a material retail store owner, plans to introduce three new stores every year in the upcoming years after debuting in Indonesia Stock Exchange (IDX) yesterday (25/11).
Erwan Irawan, Corporate Secretary of Caturkarda Depo Bangunan, stated that every future store would have a standard area of 4,000 m2. “The fund sources for establishing these new stores would originate from the proceeds of its initial public offering (IPO). This investment strategy also considers the current pandemic situation and acts as risk mitigation to ensure a continuous company development,” he elaborated further in the press release, quoted Friday (26/11).
During the initial recording on IDX yesterday (25/11), DEPO’s shares were reported to be oversubscribed 14.73 times the allotted pooling. The company issued 1,024 million shares, equivalent to 15.08% of the entire issued and paid-up capital of DEPO. In the said corporate action, DEPO raised fresh funds of DIR 493.57 billion, allocating 18% to the capital expenditure budget. Then, another 8% would be channelled to loan payment, 41% to its subsidiaries’ investments, and 33% to fund operational needs.
Currently, the company manages 10 building materials stores, locating in different regions. They include Bandar Lampung, Jakarta, Tangerang, Bekasi, Bandung, Malang, Jember, and Denpasar. Until June 2021, its profit reached IDR 47.14 billion. (LK/ZH)