BELI - Reports IPO proceeds use

Global Digital Niaga (BELI) reported that it has used 71.05% of IPO proceeds for bank loans repayment as of December 31, or equal to IDR5.5 tn. However, the company also revealed that the realization of working capital last year was lower than intended with only IDR733 bn (VS IDR1.27 tn). Furthermore, funds for capital injection for Global Tiket Network stood at IDR350 bn, lower than targeted IDR963.4 bn, bringing net proceeds from IPO to stand at IDR1.15 tn. (Source : Investor Daily)