JAKARTA – PT Jaya Swarsa Agung Tbk (TAYS), a snack manufacturer, would build a biscuit production facility worth IDR 42.19 billion in Sumedang, West Java. The company would join forces with PT Elangjaya Konstruksi (EK), a third party, to initiate this factory construction.
In the prospectus quoted Tuesday (7/12), TAYS would establish the biscuit factory in two stages. The first stage would begin in January 2022, targeting completion by August 2022. Then, the second stage would start in September 2022, aiming to be concluded by December 2022.
The fund source for this construction plan originates from the proceeds of its IPO of 240.3 million shares last week (30/11-2/12). The target of the raised funds during that corporate action amounts to IDR 86.50 billion.
The IPO funds would also be allocated to purchase and install machines in the upcoming new biscuit factory. TAYS has prepared IDR 30.60 billion to buy the machine from Yangjiang Wenva Yuandong Industry Co Ltd gradually, from February 2022 to June 2023. (LK/ZH)