COCO expects IDR 100.86 billion from its rights issue
JAKARTA – PT Wahana Interfood Nusantara Tbk (COCO) seeks fresh funds of IDR 100.86 billion by issuing 331,764,555 shares for IDR 304 each a couple of days later, starting from December 14 to 20, 2021.
In its prospectus published Wednesday (1/12), the proceeds from the rights issue were said to be used to pay corporate debts to Bank Central Asia (BCA) of an outstanding value of IDR 94.97 billion maturing by December 21, 2021. Then, the rest of the raised funds would be spent on purchasing raw materials to support the production activities of PT Olam Inti Indonesia, PT Bumitangerang Mesindotama, and PT Sumber Praline Utama.
PT Inti Jaya Corpora (IJC), the shareholder of 19.29% of COCO’s shares, would reassign its rights to Mahogany Global Investment (MGI) Pte Ltd in this corporate action.
COCO’s current authorised capital amounts to IDR 136 billion, while its issued and paid-up capital reaches IDR 56.02 billion. IJC claims 19.29%, Ferry Setiawan Hendra has another 7,32%, and the public gains 73,39%. Lastly, its portfolio carries stock worth IDR 79.81 billion. After this rights issue, its issued and paid-up capital would rise to IDR 88.96 billion, 12.14% of which belongs to ICJ, while Ferry Setiawan Hendra and the public’s portions remain unchanged. However, MGI would gain a claim over the remaining 7.15%. (LK/ZH)