Initial public offering
On the first trading day of 2022 (January 3rd), Adaro Minerals Indonesia was officially listed on Indonesian Stock Exchange (IDX) with ticker code ADMR after completing the IPO process for 6,607,081,500 shares or 16.37% of the 40,882,331,500 shares issued and fully paid-up. Adaro Minerals Indonesia raised Rp660,708,150,000 from the IPO, and up to December 31, 2022, out of the Rp584,228,541,570 net proceeds after deducting IPO cost, Adaro Minerals Indonesia had used Rp296,320,000,000 for partially repaying intercompany loans to its parent company Adaro Energy Indonesia. The remaining Rp342,758,691,570 will be used to partially fund capital expenditures of subsidiaries.