JAKARTA. The plan of PT Acset Indonusa Tbk (ACST) regarding a private placement of 15 billion shares or 70.01% of its issued and paid-up capital would be discussed in the Extraordinary General Shareholders Meeting on August 18, 2021.
Quoting the information disclosure in Indonesia Stock Exchange (IDX), Saturday (14/8), this construction company is revealed to issue a maximum of 15 billion shares of IDR 100 each. The company would then use the proceeds from the private placement to pay its debts to PT United Tractors of IDR 939.78 billion. Another IDR 560.21 billion would be channelled into the working capital. However, it would not be limited to focus only on operational activities to support its business development.
Further mentioned that PT Karya Supra Perkasa (KSP) intends to acquire a portion of these new shares in the upcoming private placement. KSP currently owns 64.84% of the company, earning titles the controller and the ultimate shareholder. All those shares could be traced back to PT United Tractors Tbk.
After the private placement took place, KSP would secure 89.45% of the shares. Meanwhile, PT Cross Plus Indonesia would have their shares diluted to 2.14% from 7.12%, as would the public investors from 28.04% to 8.41%. (AM/ZH)