JAKARTA – PT Wahana Interfood Nusantara Tbk (COCO), a cocoa powder manufacturer, is preparing for a rights issue of 331,764,555 shares of IDR 100 each. The raised funds would be channelled to pay some bank debts.
Firman Budidarma, Director of Wahana Interfood Nusantara, announces that this corporate action would be conducted at least a year after obtaining the required approval from the Extraordinary General Shareholders Meeting on September 20, 2021, and an effective statement from Financial Services Authority (OJK). “In general, 85% of the proceeds would be directed to pay off the debts owed to PT Bank Central Asia Tbk (BBCA). The rest of it would go to the working capital,” he confirms in the information disclosure, Tuesday (24/8).
According to Budidarma, the shareholders who refuse to participate in the rights issue would have their portions diluted by 37.04%.
As of July 2021, COCO’s shares amount to 560,285,571 units. PT Inter Jaya Corpora (IJC) owns 35.47% of them, PT Central Texindo (CT) 11.44%, Lusiana 5.05%, and the public 48.04%. For the record, COCO’s debt to BCA is reported to reach IDR 113.21 billion, increasing from IDR 81.38 billion. (LK/ZH)