PALMOILMAGAZINE, JAKARTA – PT Teladan Prima Agro Tbk. (TLDN), a palm oil plantation company and industry, through its subsidiary, has disclosed the utilization of funds obtained from its initial public offering (IPO), which concluded on December 31, 2023.
Wishnu Wardhana, the Director of TLDN, stated in an official statement on Monday (8/1) that the company successfully concluded its first IPO on March 31, 2022, securing Rp 300.3 billion with costs amounting to Rp 14.7 billion. Consequently, TLDN achieved a net IPO of Rp 285.6 billion.
From the total funds raised, TLDN has allocated a portion for operational needs and business development. Specifically, Rp 44 billion has been earmarked to infuse capital into PT Telen Prima Sawit (TPS) for capital expenditure, including the development of a kernel crushing plant (KCP).
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Besides, Rp 40 billion as the capital was allocated to PT Daya Lestari (DL) and was used to get capital expenditure namely to construct biogas power plant. By the fund realization, TLDN spent about Rp 84 billion from total IPO fund gathered.
Though it used some of IPO fund, TLDN still kept Rp 201,6 billion as deposit in PT Bank Mandiri (Persero) Tbk within interest rate about 6%. The fund would probably be used for the future to support the company’s progresses. (T2)
