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View all search resultsAngkasa Pura II bonds attract bids triple than what was expected
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Angkasa Pura II's s president director Budi Karya Sumadi (center) gives a speech during the opening bell ceremony at the Indonesia Stock Exchange (IDX) in Jakarta on Friday. (JP/Ivani Athina)
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n auction of state-owned airport operator PT Angkasa Pura II (AP II) bonds on Friday attracted bids worth Rp 2 trillion (US$151.8 million), which were more than triple its initial target.
“Our bond issuance have been oversubscribed by 3.8 times. Thank God, we got the public’s trust, and also I thank the company’s team for their hard work,” AP II president director Budi Karya Sumadi said in Jakarta on Friday.
Budi added the bonds, whose initial offering was conducted on Monday, would be used to finance the company’s expansion plans this year. PT Danareksa and PT Mandiri Sekuritas are acting as the joint lead underwriter for the bonds.
Budi said the company would allocate 92 percent of the funds to renovate and extend the Soekarno-Hatta International Airport and use the rest of money for expansion of other airports under AP II's management, the company financial director Andra Agussalam said.
“We will use the rest of money for the development of an airport in Kuala Namu, as well as for the construction of our airport in Jambi,” Andra added. (vny/dan)
