Helping out its subsidiary, KIOS to hold a rights issue

13 July 2022 13:33

JAKARTA – PT Kiosan Komersial Indonesia Tbk (KIOS) seeks IDR 107.58 billion of fresh funds via a rights issue of 358,619,950 shares of IDR 300 each.

In the information disclosure quoted Wednesday (13/7), Rahma Arisanti, Secretary of KIOS, mentioned that the company plans to allocate 96% of the proceeds to PT Retail Kita Indonesia (RKI), its subsidiary, as its working capital. “Said working capital is intended to expand the sales marketing scope,” she added.

According to Arisanti, the ratio in this corporate action has been set to 2:1, meaning that each two old shares will be available to be turned into one new share worth IDR 300. This corporate action is scheduled to last from July 25 to August 5, 2022.

The shareholders of KIOS until June 2022 reportedly consist of PT Artav Mobile, which owns 48.84% of 717,239,900 units of shares outstanding, and the public that shares the remaining 51.16%. (LK/ZH)

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