JAKARTA - PT Wandervale Holdings Limited (WHL) will increase its stake in PT Intikeramik Alamsari Industri Tbk (IKAI) through the private placement that will take place on 27 November 2019. During the rights issue, IKAI will issue 1,209,618,126 new shares with an exercise price of Rp 140 per share.
As quoted from the company disclosure, WHL is one of the shareholders in IKAI with an 11.85% stake. By inviting affiliated parties, the due diligence process will be shorter with simpler requirements. WHL has also made a commitment to support the development of IKAI's subsidiary.
The total value of shares to be issued is 10% of the company's total issued and paid-up capital. (LK/AR)