Adhi Karya Disburses 26.18 Percent Of Right Issue Funds, Here's The Realization!

PT Adhi Karya Tbk (ADHI) has realized the proceeds from the Limited Public Offering II (PUT II) in 2022 with Pre-emptive Rights or rights issue of IDR 694.05 billion until the first semester of 2023.

The realization of the state-owned company in the construction sector is equivalent to 26.18 percent of the total proceeds from the company's rights issue of IDR 2.65 trillion, after deducting the public offering costs of IDR 14.22 billion.

"The realization of the use of funds is used to deposit capital into the Implementing Business Entity (BUP) of the National Strategic Project (PSN) and National Non-Strategic Projects amounting to Rp694.05 billion," said ADHI Director of Finance and Risk Management Bambang Krisminarno quoting Antara.

Thus, Bambang explained that Adhi Karya still has the remaining proceeds from the rights issue of IDR 1.95 trillion until the first semester of 2023, which is stored as a giro at PT Bank Negara Indonesia Tbk or Bank BNI with an interest rate of 3.75 percent to 4.5 percent.

The state-owned company (BUMN) coded ADHI will use the proceeds from the rights issue to complete three PSN, including the Solo-Yogyakarta- NYIA Kulonprogo Toll Road project, the Yogyakarta-Bawen Toll Road project, and the Karian-Serpong Drinking Water Supply System (SPAM) project.

In addition, to complete the construction of three non-PSN projects, including the Integrated Waste Processing Facility (FPLT) project in the Medan Waste Area, the JORR Elevated Toll Road project for the Cikunir- Ulujami Section, as well as the East Cross Road Preservation project, South Sumatra.

During the first quarter of 2023, Adhi Karya managed to record a net profit attributable to owners of the parent entity (not audited) of Rp8.45 billion, or an increase of 18.9 percent (yoy) compared to the same period the previous year.

During that period, the company scored operating revenues of IDR 2.67 trillion, or decreased compared to the same period the previous year of IDR 3.79 trillion.

Meanwhile, Adhi Karya's total asset value was IDR 39.15 trillion in the first quarter of 2023, with total liabilities or debts of IDR 30.29 trillion and equity of IDR 8.86 trillion.