Launching a rights issue, Alkindo aims for IDR 157.2 billion
JAKARTA. The paper and chemical manufacturer, PT Alkindo Naratama Tbk (ALDO), has received an effective statement regarding its plan of a rights issue of 216.85 million shares of IDR 100 each.
In the information disclosure in Indonesia Stock Exchange (IDX), the management announced that the execution price was set to IDR 725 per share. Thus, the target of the raised funds in the rights issue amounts to IDR 157.2 billion.
Sutanto, President Director of ALDO, claimed in an official statement yesterday (1/12) that 44.91% of the proceeds would be channelled to raise its portion in Swisstex from 51% to 99%. Then, another 42.93% would be used to increase its ownership percentage in Alfa Polimer Indonesia (ALFA) from 51% to 99%, while the remaining 12.16% would be utilised to fund the working capital.
The last day of stock trading with preemptive rights in the regular and negotiation market would be December 8, 2021, and December 10, 2021, for the cash market. Then, the starting date of stock trading without preemptive rights in the regular market would fall on December 9, 2021, followed by the cash market on December 13, 2021.
Meanwhile, the recording date to earn the preemptive rights would fall on December 10, 2021, preceding the recording date on Indonesia Stock Exchange (IDX) on December 14, 2021. Then, the preemptive rights trading session would span from December 14 to 20, 2021, which happens to be the period of the rights issue itself. (AM/ZH)