JAKARTA – PT Wicaksana Overseas International Tbk (WICO) will conduct a private placement, issuing 400 million shares of IDR 500 each, or capped at 3.52% of the current issued and paid-up capital of the company.
Roni Setiawan, President Director of WICO, claimed that the money gained from this corporate action will then be utilised to improve the cash flow, equity, and financial condition of the company. “A portion of the private placement proceeds will be channelled to the suppliers in order to repay the loans worth IDR 118.18 billion in total,” he said in the information disclosure quoted Thursday (23/6).
The suppliers in question are PT Siantar Top Tbk, PT Golderma Indonesia Healthcare, AB Food & Beverages, Thailand Ltd, PT Bentoel Distribusi Utama, PT Kino Indonesia Tbk, PT Brand Suntory Indonesia, and PT Coca Cola Distribution Indonesia. After this loan repayment, its debts still remain at IDR 198.72 billion.
Then, the rest of the proceeds, amounting to IDR 30.21 billion, will be channelled as a debt payment to DKSH Corporate Shared Service Center Sdn Bhd, an affiliate of the company.
The investors in this corporate action include DKSH Holding AG, the shareholder of WICO and DKSH Corporate Shared Service Center Sdn Bhd. The specified detail regarding this plan will be further discussed during the Extraordinary General Shareholders Meeting on July 29, 2022. (LK/ZH)