PT Ladangbaja Murni Tbk (LABA) managed to raise Rp25 billion in fresh funds from the capital market through an initial public offering (IPO) on Thursday (10/6).

President Director of Ladangbaja Murni Mugi said the company would use funds to renovate machines at the company's new larger warehouse in Cibitung. This is an effort by the company to improve the company's operational performance by increasing production capacity, better quality, best innovation, and expanding business lines in plastic injection molding.

"We are optimistic to continue to develop the company's business due to the growth prospects of the mold industry, steel derivative spare parts, and plastic injection molds which are still very large in Indonesia, coupled with government support through the Domestic Component Level (TKDN) regulation which supports the domestic industry to continue growing," he said in Jakarta, Thursday (10/6).

Meanwhile, in the public offe