Harita Nickel (NCKL) Has Fully Utilised IPO Proceeds of Rp9.71 Trillion
PT Trimegah Bangun Persada Tbk (NCKL), known as Harita Nickel, has completed the utilisation of all proceeds from its Initial Public Offering (IPO) as of 31 March 2026. The nickel mining issuer announced that net proceeds of Rp9.71 trillion have been realised for various strategic company purposes, as reported by Investasi.
Suparsin D. Liwan, Director of Trimegah Bangun Persada, explained that the fund allocation has fully aligned with the plans outlined in the company’s prospectus. Accountability for the realisation of fund usage will be submitted for approval at the next Annual General Meeting of Shareholders (AGMS).
NCKL was officially listed on the Indonesia Stock Exchange (BEI) on 12 April 2023, successfully raising public offering funds of Rp9.99 trillion. After deducting public offering costs of Rp289 billion, the net amount received by the company from the IPO event reached Rp9.71 trillion.
The use of these funds covers several key items. Rp825 billion was used to settle debt to PT Harita Jayaraya, and Rp893.28 billion was allocated for debt repayment to PT Dwimuria Investama Andalan.
Additionally, NCKL settled debt of Rp2.22 trillion to Oversea-Chinese Banking Corporation Limited (OCBC) and PT Bank OCBC NISP Tbk. The company also realised the repayment of outstanding debt for Facility Term Loan 1 and Facility Term Loan 3 to OCBC NISP amounting to Rp130.74 billion.
Capital Investment and Development
In the capital expenditure category, NCKL allocated Rp323.90 billion. These funds were used for the procurement of heavy equipment, such as bulldozers, fuel trucks, and rock breakers. This investment also includes repairs, capacity enhancements for nickel mining infrastructure, and the development of other supporting infrastructure.
NCKL also channelled funds of Rp3.32 trillion in the form of capital contributions and loans to associated entities and subsidiaries. Capital contributions were made to PT Karunia Permai Sentosa and PT Obi Nickel Cobalt. Meanwhile, loans were extended to subsidiaries such as PT Halmahera Jaya Feronikel, PT Gane Permai Sentosa, and PT Jikodolong Megah Pertiwi.
Rp1.60 trillion from the IPO proceeds was allocated for the acquisition and/or additional share ownership in associated entities engaged in the processing or refining of nickel ore. In this context, NCKL purchased 628,240 shares or equivalent to 10% of shares in PT Obi Nickel Cobalt, thereby increasing the company’s ownership to 20%.
Finally, NCKL used Rp393.42 billion from the IPO proceeds for working capital. These funds support operations such as contractor payments, royalties, employee salaries, fuel purchases, as well as repair and maintenance costs.