JAKARTA. PT Victoria Investama Tbk (VICO) announces the plan to issue 1.01 billion new shares via a private placement, or a capital raise without giving preemptive rights.
The total shares to be issued will be equal to 9.99% of VICO’s issued and paid-up capital. Each new share has a face value of IDR 100 and will be offered for a minimum 90% of average closing price in the last 25 days.
“The company’s new shares will be issued to one or several investors that have been meaning to acquire new shares of ours, whom, until the time this information disclosure is issued, have yet to be specified,” the management of VICO clarified in the public release.
The management further revealed that 90% of the private placement proceeds will be used to channel additional capital to PT Bank Victoria International Tbk (BVIC). The remaining portion will be utilised as the company’s working capital.
This capital injection is related to BVIC’s plan to issue 7.04 billion new shares in a rights issue. As previously informed, this rights issue is intended to raise BVIC’s core capital.
According to idnfinancials.com data, VICO’s average closing price in the last 25 days is IDR 183.88 per share. Assuming that the private placement will be carried out with the offering price of IDR 165.49 per share, or 90% of the average closing price of the last 25 trading days, VICO will potentially end up gaining IDR 166.47 billion in total. (KR/ZH)