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VICO to earn IDR 277.99 billion from a private placement

02 December 2021 14:39

JAKARTA – PT Victoria Investama Tbk (VICO) arranges a private placement, issuing 914,473,683 shares of IDR 304 each next week on December 8, 2021. The said corporate action is expected to raise IDR 277,99 billion of fresh funds.

In the information disclosure quoted Thursday (2/12), Aldo Jusuf Tjahaja, Director of Victoria Investama, claimed that the beneficiaries of the private placement shares are Suzanna Tanojo and Chemical Asia Corporation Pte Ltd, both affiliates of the company.

“These affiliated parties have grasped the company’s business conditions. It allows the private placement to be conducted more swiftly and assuredly without any delays that could cause the late business development,” Tjahaja added.

According to Tjahaja, the private placement is intended to solidify the capital structure and increase the shares outstanding. Thus, it would indirectly boost the liquidity of VICO’s stock trading.

As of October 2021, VICO’s shares are reportedly 9,150,094,680 units, 68.16% of which are controlled by PT Gratamulia Pratama. Suzanna Tanojo owns another 21.77%, while public investors have 10.07%. (LK/ZH) 

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