Bank Mas Of The Wings Group Of Conglomerate Harjo Sutanto Has Realized The Use Of 8 Percent Of IPO Funds, Value Of IDR 500.56 Billion

Illustration. (Photo: Doc. Bank Mas)

JAKARTA - PT Bank Multiarta Sentosa Tbk (MASB) alias Bank Mas has realized 80 percent of the use of proceeds from the IPO amounting to IDR 625.55 billion.

In an information disclosure on the Indonesia Stock Exchange (IDX) website quoted on Tuesday, January 11, this bank owned by the boss of the Wings Group, Harjo Sutanto, reported the realization of the use of proceeds from the public offering as of December 2021. Bank Mas pocketed the proceeds from the public offering with an effective date on June 22, 2021 amounting to IDR 625.55 billion.

After deducting the cost of the public offering of Rp.2.83 billion, the net result is IDR 622.73 billion. As of December 2021, the company has realized 80 percent of the proceeds from the IPO or IDR 500.56 billion.

This amount was used for credit disbursement of IDR 464.41 billion and information technology development of IDR 36.15 billion.

"The remaining funds from the public offering as of December 2021 amounted to IDR 122.16 billion," the management wrote in its report.

Furthermore, the Wings Group bank will schedule an extraordinary general meeting of shareholders (EGMS) on January 28, 2022. The meeting is to discuss changes in the composition of the board of directors.