JAKARTA - PT Sariguna Primatirta Tbk (CLEO), a mineral water company known as Cleo, is seeking fresh funds of Rp 274 billion by releasing 1 billion shares at a price of Rp 274 per share by conducting a private placement. The funds will be used to repay loans obtained from PT Bank Central Asia Tbk (BBCA), to allocate capital expenditure (Capex), and the remainder for working capital.
Based on the company's financial statements, Cleo loans that will be paid from a private placement fund of Rp 225 billion to BCA around Rp 20.3 billion will be used for capital expenditure. BCA loans have been used as investments and capital expenditures last year from 2013.
After the private placement, Cleo's current assets will reach Rp. 172.87 billion from Rp. 144.17 billion before private placement. Non-current assets will reach Rp 537.03 billion, an increase from Rp 516.73 billion, and total assets of Rp 709.91 billion, an increase from Rp 660.91 billion. While current liabilities will decrease to Rp. 77.23 billion from Rp. 116.84 billion, non-current liabilities of Rp. 60.71 billion fell from Rp 246.10 billion. (LK)