JAKARTA – PT Alumindo Light Metal Industry Tbk (ALMI) seeks fresh funds worth IDR 800 billion through a private placement of 3.2 billion shares of IDR 250 each. This corporate action plan would be decided further in the Extraordinary General Shareholders Meeting, scheduled for next week (31/8).
In the information disclosure quoted on Friday (27/8), Wibowo Suryadinata, Corporate Secretary of Alumindo Light Metal Industry, claims that the proceeds of this corporate action would be used to pay off temporary debts owed to related parties. As of December 2020, ALMI’s equity was reported to reach minus USD 19.08 million, while its liabilities amounted to USD 120.23 million, approximately 118.87% of ALMI’s total assets.
The companies to take part in this private placement are ALMI’s affiliated parties. They are PT Husni Investama (HI) with IDR 577.28 billion, PT Alim Investindo (AI) with IDR 150 million, and PT Guna Investindo (GI) with IDR 72.72 billion. “The controllers of the company, including the controllers of HI, AI, and GI, are members of the Alim Family. Thus, it would only change the shareholders’ composition without changing the company’s controllers,” Suryadinata confirms. (LK/ZH)