JAKARTA. PT Caturkarda Depo Bangunan Tbk (DEPO) has realised IDR 307.17 billion or 62% of the funds raised during its initial public offering (IPO) back in November 2021.
Erwan Irawan Noer, Director of DEPO, confirmed that IDR 2.05 billion of the proceeds had been allocated to the company’s capital expenditure. Another IDR 41.09 billion was used to pay back loans, followed by IDR 201.39 billion for subsidiary investment purposes. Then, IDR 57.46 billion was channelled to the working capital, while another IDR 5.82 billion was to cover emission fees.
As of now, the remaining IPO proceeds of DEPO amount to IDR 185.77 billion. Initially, DEPO planned to allocate IDR 87.8 billion of the proceeds into the capital expenditure. Then, another IDR 39.02 billion is intended to pay bank loans, followed by IDR 199.89 billion to subsidiary investment and IDR 160.96 to the working capital.
DEPO placed the remaining proceeds in current accounts and deposits in four banks, earning interest rates ranging from 1.50% to 2.75%. Those four banks in question are PT Bank Central Asia Tbk (BBCA), PT Bank Negara Indonesia Tbk (BBNI), PT Bank Mandiri Tbk (BMRI), and PT Bank Rakyat Indonesia Tbk (BBRI).
Based on idnfinancials.com data, DEPO’s shares during today’s trading session showed stagnation at IDR 490 per share. Since the first date of listing in Indonesia Stock Exchange (IDX), DEPO’s stock price declined 18.33% or 110 points from IDR 600 per share. (KR/ZH)