ACST - PT. Acset Indonusa Tbk

Rp 545

+15 (+2,75%)

JAKARTA - PT Acset Indonusa Tbk (ACST) raised Rp 1.49 trillion in its second limited public offering in the form of a rights issue completed on 15 September 2020.

The funds, said Acset Indonusa CEO Idot Supriadi, will be used to repay a shareholder loan to PT United Tractors Tbk (UNTR).

"We hope this can drive the company's growth so that it can provide the best to all stakeholders," Mr Supriadi said in an official statement received by IDNFinancials.com, Tuesday (29/9).

In the corporate action, PT Karya Supra Perkasa (KSP) acted as a standby buyer and increased its stake in Acset Indonusa to 64.84% or 4,165,808,885 shares. A 7.12% stake in the company is owned by PT Cross Plus Indonesia, while the remaining 28.04% is owned by public investors.

In the first semester (1H) of 2020, Acset Indonusa posted a net loss drop of 37.6% year on year (yoy) to Rp 252.20 billion. In the same period, the company's revenue also fell 51.8% yoy.

In early September, the company obtained a Rp 260 billion contract to build the Kertajati International Airport access toll road in Majalengka, West Java. The toll concession is held by PT Lintas Marga Sedaya. (MS)