Adaro Andalan Indonesia (AADI) Officially Listed on the Indonesia Stock Exchange
Reporter
December 5, 2024 | 02:18 pm
TEMPO.CO, Jakarta - PT Adaro Andalan Indonesia Tbk (AADI) was officially listed on the Indonesia Stock Exchange (IDX) on Thursday, December 5, 2025. AADI is a coal business spin-off from PT Alamtri Resource Indonesia Tbk (ADRO), formerly PT Adaro Energy Indonesia Tbk.
Julius Aslan, President Director of PT Adaro Andalan Indonesia Tbk, stated that the thermal coal and its supporting ecosystem, which are the focus of AADI, still have good prospects ahead. However, its potential depends on regional and global economic conditions.
"The need for coal is still quite high, especially supported by Asia's economic growth. Global economic conditions highly influence the characteristics of the coal business," Julius said at the BEI building on Thursday.
AADI went through the public offering period from November 29 to December 3, 2024, with an IPO share price of Rp5,550 and a par value of shares of Rp3,125. Meanwhile, the listed shares are 7,786,891,760, consisting of 7,008,202,560 founder shares and 778,689,200 public offering shares. AADI has a market capitalization of Rp43.21 trillion, with funds raised during the IPO at Rp4.32 trillion.
Before this, AADI's management revealed that all funds raised from the IPO would be used for several purposes. Forty percent of it will be used to provide loans to its subsidiary, PT Maritim Barito Perkasa or MBP, to support operational activities. In addition, another 15 percent will be used by the Company to repay part of the loans based on a loan agreement with PT Adaro Indonesia or AI.
"The Company uses the remainder to repay ADRO for part of the principal on a loan based on a loan agreement dated June 24, 2024," ADRO's management wrote in the IPO prospectus.
This movement by AADI began with an announcement on September 11, 2024, when PT Adaro Energy Indonesia Tbk (ADRO) decided to sell its shares in PT Adaro Andalan Indonesia. The Company plans to separate the mining pillar business and several businesses under AADI with the Adaro Minerals and Adaro Green business pillars. The company owned by Garibaldi Thohir or Boy Thohir is confident that this step can maximize AADI's performance and non-thermal coal business pillars.
HAMMAM IZZUDDIN | MARTHA WARTA SILABAN
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