JAKARTA - PT Perdana Karya Perkasa Tbk (PKPK), a coal mining company, will convert its treasury stocks, which has a total value of Rp 26 billion to pay part of its debt to PT Royal Victoria Hotel (RVH). As of December 2019, RVH owns 30% of PKPK shares.
Untung Haryono, Corporate Secretary of PT Perdana Karya Perkasa Tbk (PKPK), said that the total number of treasury stocks to be converted are 60,631,500 shares, with an average price of Rp 428.97 per share.
The loan was received by PKPK from RVH on 5 April 2017. The loan was used by the company to repay its debt to PT Bank Mandiri (Persero) Tbk (BMRI). (LK/AR)