Conglomerate Issuer's IPO Receives IDR 173,2 Billion

Lovata Andrean

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Main point 2

Rancakmedia.com – The conglomerate issuer's IPO raised IDR 173,2 billion. PT Triputra Agro Persada Tbk, as a subsidiary of the Triputra Group which is owned by conglomerate TP Rachmat and owned by Persada Capital by conglomerate Benny Subianto.

Palm oil producer PT Triputra Agro Persada Tbk. On Monday (4 December 2021) it succeeded in raising IDR 173,24 billion in fresh funds from the capital market through an IPO.

Triputra Agro Persada Corporate Secretary Joni Tjeng explained that the funds obtained from this action would be used to increase the share ownership of its subsidiary, PT Agro Multi Persada (AMP).

"Next, it will be passed on to AMP's subsidiary, PT Sukses Karya Mandiri (SKM), for capital expenditures and working capital related to the construction of the SKM factory in Central Kalimantan," said Joni, as explained, Monday (2/1). December 3, 2021).

Apart from that, the TAPG shares coded by the issuer will use the remaining funds from the IPO for working capital in the form of purchasing fertilizer.

TAPG is a subsidiary of the Triputra Group which is owned by conglomerate TP Rachmat and Persada Capital which is owned by conglomerate Benny Subianto. TAPG is a palm oil, rubber and processing company.

Currently, the company works in 24 oil palm plantations, 1 rubber plantation, 15 palm oil factories, 1 RSS (Ribbed Smoke Sheet) factory and 4 branches in Jambi, Central Kalimantan and East Kalimantan.

Conglomerate Issuer Gets IPO

Joni explained that the company always tries to produce high quality crude palm oil and palm staple to meet the needs of foreign and domestic markets.

“In improving its business, the company maintains its commitment to sustainability by adopting globally recognized standards. This can be seen from the achievements of the Roundtable on Certificates Sustainable Palm Oil (RSPO) and the Indonesian Certificates for Indonesian Sustainable Palm Oil (ISPO)”said Joni.

To achieve the goal of realizing business sustainability, community empowerment and environmental conservation, the company collaborates by creating a plasma core program with plasma farmers and plasma plantation cooperatives.

The company has developed an information technology system that uses artificial intelligence and remote sensing technology for its operations.

Apart from that, improving good agricultural practices to realize TAPG's mission and providing long-term support for oil palm businesses.

Therefore, the company implemented an ESA (Employee Stock Allocation) program with a total of 0,57% of the shares offered in the public offering or around 4,89 million shares.

PT Ciptadana Sekuritas Asia and PT Trimegah Sekuritas Indonesia Tbk act as loyal consumers as a result of TAPG in this IPO.

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Lovata Andrean

Hi, I'm Lovata, I'm not Ai but I am a content writer for SEO, Technology, Finance, Travel, Cooking Recipes and others. I hope this can be useful for all my friends. Thanks