PT Triputra Agro Persada Tbk officially listed its shares on the Indonesia Stock Exchange (IDX) and released as many as 866,200,000 new shares with a nominal value of Rp100 per share or as much as 4.36% of the issued and fully paid capital after the Public Offering.

In his statement, Monday (12/4), the company with the issuer code TAPG appointed PT Ciptadana Sekuritas Asia and PT Trimegah Sekuritas Indonesia Tbk underwriters.

The company held the public offering period on April 5-6, 2021.

The company is engaged in the oil palm, rubber, and processing industries. Currently, the company operates in 24 oil palm plantation locations, one rubber plantation, 15 palm oil mills, 1 Ribbed Smoke Sheet (RSS) factory, and four subsidiaries' branch offices located in Jambi, Central Kalimantan, and East Kalimantan.

The company also held a share award program in the Employee Stock Allocation (ESA) Program with a total of 0.57% of the shares offered in the public offering or as many as 4,897,000 shares.

The shares offered are new shares issued from the company's portfolio.

The company will use the funds obtained from this public offering will increase capital participation in a subsidiary, namely PT Agro Multi Persada (AMP), which it will then channel to AMP's subsidiary, PT Sukses Karya Mandiri (SKM), for capital expenditure and working capital in connection with development. SKM factory in Central Kalimantan.

Also, the company uses the remaining funds for working capital in the form of purchasing fertilizers.