It's Not Exhausted, Bukalapak Still Has Rp15.54 Trillion Of Remaining Money From IPO Proceeds Of Rp21.32 Trillion

Photo: Doc. Twitter @ridwankamil

JAKARTA - PT Bukalapak.com Tbk (BUKA) still has funds of Rp. 15.54 trillion from the results of the initial public offering (IPO) of shares which was held on August 6, 2021. The funds are equivalent to 72.9 percent of the total IPO proceeds of Rp21.32 trillion.

In an information disclosure on the Indonesia Stock Exchange (IDX) website, quoted on Tuesday, July 19, as of the end of June, it was noted that Bukalapak had only used the proceeds from its IPO for working capital worth Rp5.77 trillion, or around 27.1 percent since it was listed on the stock exchange.

In detail, this fund is allocated for working capital at PT Buka Mitra Indonesia Rp964.88 billion, which is equivalent to 35.88 percent of the initial realization. PT Buka Procurement Indonesia worth Rp28.11 billion, Bukalapak Pte Ltd received Rp1.05 billion in funds.

Furthermore, PT Five Jack received a working capital disbursement of IDR 10 billion and another IDR 2.24 trillion for business development of the company and its subsidiaries other than those already mentioned.

Meanwhile, when holding the largest IPO in the history of the Indonesian capital market, BUKA cost an IPO of up to Rp574.84 billion. In which, the company spent the most funds for management fees of Rp262.80 billion or 1.2 percent of the total expenditure.

Meanwhile, the next largest expenditure came from underwriting fees of Rp. 131.40 billion and selling fees of Rp. 131.40 billion or 0.60 percent.

Followed by the cost of capital market supporting professions of Rp. 35.64 billion, the cost of capital market supporting institutions of Rp. 153.30 million, the cost of financial consulting services of Rp. 150 million, and other attributable costs of Rp. 13.28 billion.

Now, the majority of Bukalapak's IPO funds were placed in deposit instruments worth Rp. 11.21 trillion with interest rates varying from 2.90-3.10 percent. The deposit in question is divided into four.

Furthermore, Bukalapak also placed Rp3.37 trillion in demand deposits in demand deposits with an interest rate of 2.9 percent. The current account is also divided into four current accounts.

Then, Bukalapak's IPO funds worth IDR775 billion were placed in three mutual fund products with yields ranging from 1.91-2.18 percent. The rest, the company placed funds in five bonds worth IDR76.08 billion each with a coupon of 4.13-4, 75 percent.