JAKARTA. PT Indospring Tbk (INDS) boosted the issued and paid-up capital of one of its subsidiary, PT Indonesia Prima Spring (IPS).

This capital raise by IPS involved IDR 15 billion worth of capital, comprising 15 thousand units of shares of IDR 1 million each.

INDS then placed a capital investment of IDR 14.99 billion, representing 99.90% of IPS’s shares. The remaining IDR 15 million, or 0.10% of the shares, were channelled by Wiranto Nurhadi.

Bob Budiono, Director of INDS, believed that this extra capital will positively affect IPS’s performance.

Based on idnfinancials.com data, INDS had previously placed a capital investment to IPS of IDR 34.97 billion during its initial establishment on April 22, 2014.

Until June 30, 2022, INDS reported having cash and cash equivalent of IDR 118.33 billion, while its total assets reached IDR 3.63 trillion and total equity IDR 2.84 trillion. (KR/ZH)