JAKARTA. PT Victoria Investama Tbk (VICO) has set the offering price for its new shares issued in the capital increase without preemptive rights, or a private placement, to a premium price of IDR 219 each.
Said price is 15.3% higher than VICO’s share price during the closing bell of yesterday’s trading session of IDR 193 per share. Until 10.20 AM WIB today (15/6), VICO’s stock price reportedly declined 6.74% or 13 points to IDR 180 per share.
The management of VICO said that the number of shares to be issued in the upcoming private placement is 1.01 billion units. The committed standby buyer in this corporate action is Chemical Asia Corporation Pte Ltd, an affiliate of the company.
“This transaction is carried out alongside an affiliated party. We base this decision on the assumption how the affiliate has understood the company’s business condition, allowing the private placement to take place quickly and positively,” the management explained.
As mentioned in idnfinancials.com earlier, through this private placement, VICO aims to strengthen its capital structure. Then, the proceeds obtained from this corporate action will then be channelled out to PT Bank Victoria International (BVIC) as a capital investment. (KR/ZH)