Jembo Cable injects Rp 47 billion to improve the capital of its subsidiary
JAKARTA - PT Jembo Cable Company Tbk (JECC) injected fresh funds worth Rp 47 billion to restructure the capital of its subsidiary, PT Jembo Energindo. This additional capital injection is done by converting the subsidiary's debt to JECC.
As quoted from the disclosure of company information, (29/1), Antonius Benadi, Director of PT Jembo Cable Company Tbk (JECC) conveyed that additional capital by converting Jembo Energindo's debt was carried out on January 27, 2020. "The purpose of capital participation for capital restructuring and performance improvement finance, "he said.
The number of shares of Jembo Energindo was 56 million shares valued at Rp 28 billion with the composition of shareholders is JECC 99.99% and JECC Employee Cooperation 0.1%. After additional capital, the number of shares of Jembo Energindo increased to 150 million shares with a value of Rp 75 billion. (LK)