Jakarta, CNBC Indonesia – The e-commerce issuer, PT Bukalapak Tbk (BUKA), received shareholder approval to change the use of proceeds from the initial public offering (IPO).
As is known, the issuer codenamed BUKA obtained IPO funds worth IDR 21.9 trillion by releasing as many as 25.77 billion shares.
The President Director of Bukalapak, Rachmat Kaimuddin, said that this change is in line with the company’s management strategy which focuses on the growth of the company and its subsidiaries.
“So that the company and its subsidiaries can grow better in the future and can develop sustainably. The company and its subsidiaries also always manage the costs incurred more efficiently,” said Bukalapak President Director, Rachmat Kaimuddin, in a press statement, Thursday (23rd). /12/2021).
Meanwhile, the details of the changes in the use of these funds, among others, around 33% for working capital.
Approximately 34% will be used for working capital of subsidiaries, in detail, around 15% will be allocated to PT Buka Mitra Indonesia; around 15% is allocated to PT Buka Usaha Indonesia; around 1% is allocated to PT Buka Investasi Bersama;
Then, about 1% was allocated to PT Buka Pengadaan Indonesia; around 1% is allocated to Bukalapak Pte. Ltd.; and around 1% is allocated to PT Five Jack.
The remainder will be used by the company and/or subsidiaries for business development but not limited to the purchase of shares or assets or investment in shares in one or more companies, including in the context of joint venture agreements, and other appropriate transaction methods.
In addition to the change in the use of IPO funds, Bukalapak’s management also approved the resignation of Lau Eng Boon from the board of commissioners.
Lau Eng Boon previously served as a member of the Board of Commissioners of PT Bukalapak.com Tbk and has started his retirement at the Government of Singapore Investment Corporation Pte Ltd (GIC).
“We are optimistic that this development can continue to support Bukalapak’s goals towards sustainable growth and profitability,” said President Commissioner and Independent Commissioner of Bukalapak, Bambang Brodjonegoro.
(sys / hps)
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