AMMN – Utilized IDR10.32 tn of IPO proceeds, for subsidiaries

AMMN – Utilized IDR10.32 tn of IPO proceeds, for subsidiaries Amman Mineral Internasional (AMMN) has disclosed the utilization of funds from its initial public offering (IPO) as of December 31, 2023. At its IPO, AMMN raised around IDR10.47 tn of net proceeds (after expenses). AMMN has utilized around IDR10.32 tn out of net total IPO proceeds; a) IDR5.48 tn for capital injection into Amman Mineral Nusa Tenggara, b) IDR3.04 tn for debt settlement with Amman Mineral Nusa Tenggara, and c) IDR1.79 tn for capital injection into Amman Mineral Industri. As a result, AMMN still has around IDR152.9 bn in IPO proceeds, which the company put in Bank Mandiri (BMRI) with 5.5% annual interest rate. (Source: Emiten News)