IPO Fund Use by Harta Djaya (MEJA): Largest Share Allocated to Working Capital
Author : Muhammad Natsir
13/10/2026
EmitenNews.com – PT Harta Djaya Karya Tbk. (MEJA) has corrected its report on the realized use of IPO proceeds as of 30 June 2026. The company operates in exterior decoration, interior decoration, and household equipment and furniture design. Its IPO, effective 12 February 2024, raised Rp49.44 billion. After Rp4 billion in offering costs, MEJA received net proceeds of Rp45.44 billion.
In a written statement on Tuesday (13/10/2026), MEJA’s President Director, Richie Adrian Hartanto, said the correction covers format adjustments and additional disclosures required under the Appendix to Financial Services Authority (OJK) Regulation No. 40 of 2025 on the Use of Proceeds from Public Offerings. These include a detailed breakdown of fund use, the holding account, target timelines for realization, and the line items under which the funds are recorded in the financial statements.
Management has used Rp35.95 billion of the IPO proceeds, or 79.12%, for working capital, recorded under Subcontractor Advances and Cost of Revenue.
The company still holds the remaining Rp9.48 billion, or 20.88%, at Bank BCA earning 1% interest. It is targeted for use by October 2026, in line with working capital needs and project progress.
MEJA Repays All Its Debt to Bank Central Asia
Earlier, on 30 September 2026, PT Harta Djaya Karya Tbk (MEJA) fully repaid its debt to PT Bank Central Asia Tbk (BBCA) under its Working Capital Loan (KMK) and Overdraft (KRK) facilities.
According to the company’s disclosure dated 5 October 2026, the repaid KMK facility had a limit of Rp2 billion and the KRK facility a limit of Rp1 billion, for a combined limit of Rp3 billion.
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