Using All Rights Issue Proceeds Of Rp707.36 Billion, Adi Sarana, Owned By Conglomerate TP Rachmat, Pays Bank Debt Of Rp639.28 Billion

Photo: Doc. Adi Sarana Fleet

JAKARTA - PT Adi Sarana Armada Tbk (ASSA) has realized the use of all proceeds from the issuance of new shares with pre-emptive rights (PMHMETD) or rights issue. The total value is IDR 707.36 billion.

Quoting Adi Sarana Director Jerry Fandy, Friday, July 15, this amount is the net proceeds from the rights issue after deducting the cost of the public offering. From Rp720 billion, Rp12.63 billion became the cost of the public offering.

Of that amount, Jerry detailed, the transportation company owned by conglomerate TP Rachmat used Rp639.28 billion to pay off bank debts. The details are Rp153.36 billion for Bank BTPN and Rp233.02 billion for Bank CIMB Niaga.

In addition, the company also paid Rp167.9 billion to Bank Mandiri. Then, Rp85 billion to Bank BCA Syariah.

Still from the rights issue funds, Jerry also explained that the company used Rp18.52 billion for business development. The remaining Rp49.56 billion is part of the fulfillment of Adi Sarana's working capital needs.