JAKARTA – PT Eterindo Wahanatama Tbk (ETWA) would convert its debts owed to PT Mordred Investama Indonesia (MII) worth IDR 232.53 billion to shares via a private placement taking place on December 22, 2021.
In the information disclosure quoted Wednesday (15/12), Azwar Alinuddin, Corporate Secretary of Eterindo Wahanatama, said that ETWA would issue 3,700,374,400 Series B shares of IDR 50 each but offer them for IDR 75 per share. Thus, the total funds raised in this private placement would be approximately IDR 277,52 billion.
The number of shares of ETWA after this corporate action would rise to 4,668,671,400 shares from 968,297,000 shares. This plan has gained approval during the Extraordinary General Shareholders Meeting last week (1/12).
As of November 2021, ETWA’s number of shares amounted to 968,297,000 shares, 21.83% of which belonged to Watervale Worldwide Inc. Meanwhile, Centrin Telecom Ltd owned 14.25%, Hadisan Sridjaja 7.51%, Osville Energy Corp 6.35%, Bank of Singapore 5.72%, and public investors 44.34%.
As mentioned above, ETWA owed PT Mordred Investama Indonesia debts worth IDR 232.52 billion. This debt originated from the debt reassignment to three creditors by MMI. They include PT Kencana Agung Abadi (KAA) of IDR 128.96 billion and USD 2.17 million, South East Asia Export Import (SEA) of USD 2.09 million, and PT Chemone Indoensia (CI) of IDR 33.79 billion. (LK/ZH)