The largest heavy equipment rental company in Indonesia, PT PP Presisi Tbk (PPRE) claimed just spent IPO fund as much Rp 201,3 billion. Overall, the funds used for the working capital of the company.
Director of finance and also Corporate Secretary PP Presisi, Benny Pidakso said the funds from IPO amounted to Rp 1,01 trillion. After IPO cost deduction Rp 26,34 billion, the remaining funds amounted to Rp 984,68 billion.
"When referring to the prospectus, around Rp 689,27 billion will be used for capital expenditures, and Rp 295,4 billion will be used for working capital, "he said in Jakarta on Tuesday (16/1/2018).
Further he said, the company still has remaining funds from IPO at Rp783,37 billion. Where approximately Rp 28,37 billion at IPO account and the remaining Rp 755 billion IPO is placed in bank deposits.
For note, in the process of IPO on November 24, 2017, the company listed the stock as many as 2,351,221,000 shares or equivalent to 23% of the capital paid in full and placed by the company after the IPO.
