JAKARTA - PT Wijaya Karya Realty (WR) received additional capital of IDR 1 trillion from its parent company, PT Wijaya Karya (Persero) Tbk (WIKA) through a debt to equity swap scheme. The capital injection was approved through the Extraordinary General Meeting of Shareholders (EGMS) WR on (31/12).
In the disclosure of information quoted on Wednesday (5/1), the additional capital is for the investment needs of Wika Realty. As of April 2021, WR has loans from shareholders, including interest of IDR 4.50 trillion. However, what is recognized as debt by WIKA is as much as IDR 3.95 trillion. After the transaction, WIKA's share ownership in WR increased to IDR 5.26 trillion.
As of April 2021, the market value of 37,533,366,625 shares with IDR 105 per share is amounting to IDR 3.92 trillion. As of September 2021, the additional capital via the debt to equity swap mechanism is IDR 1 trillion with a conversion value of IDR 106 per share. With this value, the transaction value is 0.95% higher than the market value, but within a reasonable range. (LK/LM)