JAKARTA - PT Surya Esa Perkasa Tbk (ESSA) plans to hold a private placement on 4 December 2020 by issuing 1.43 billion shares with a nominal value of IDR 10 per share, provided the plan is approved by the company's shareholders during its Extraordinary General Meeting of Shareholders (EGMS) which will take place on Wednesday (25/11).
As quoted from the brief prospectus published on Monday (23/11), the investors who will take part in the planned corporate action include Garibaldi Thohrir, PT Ramaduta Teltaka, Chander Vinod Laroya, Sugito Walujo, Chandru Nebhraj T, Mukesh Agrawal, Deepak Khullar, Prakash Bumb, Miranda, JP Morgan Singapore, Bank Julius Baer, Singapore, and UOB Kay Hian Pte Ltd Singapore.
The corporate action was carried out in relation to the company's plan to increase working capital, increase investment in its subsidiary, PT Panca Amara Utama (PAU), and reduce its debt to equity ratio (DER) to 1.95 times from 2.04 times. (LK/AR)