JAKARTA – PT Agung Menjangan Mas Tbk (AMMS), an aquatic farming company, allocates 25 of the proceeds gained during its initial public offering (IPO) for heavy equipment purchase in order to advance its business.
In the IPO prospectus quoted Thursday (18/8), AMMS stated to aim for IDR 24 billion of fresh funds in IPO. Approximately 75% of them, equal to IDR 18 billion, is channelled to the working capital, while the remaining 25% or IDR 6 billion will be spent on heavy equipment and dump trucks.
Specifically, IDR 3.21 billion of it will be given in exchange for one unit of excavator PC-300. Then, another IDR 2.78 billion will be used to acquire two units of Dyna dump trucks and roller-tandem bulldozer for ground levelling.
AMMS is known to have issued 240 million shares for IDR 100 each two weeks ago, from July 29 to August 2, 2022. Then, the company also issued 336 million series I warrants, which will be effective from February 6, 2023, to August 1, 2025. (LK/ZH)