JAKARTA – PT Wicaksana Overseas International Tbk (WICO) has paid off its outstanding debts of IDR 36.64 billion after securing fresh funds via a private placement last week.
“The plan of utilising the proceeds of the capital increase includes allocating 59.09% of them to the payment of raw material purchase from our supplier,” Eka Hadi Djaja, Director of WICO, announced in the information disclosure quoted Tuesday (20/9).
In a private placement last week (15/9), DKSH Holding AG, the primary shareholder of WICO spent IDR 61.17 billion for 122,353,390 shares issued for IDR 500 each.
WICO will also channel another 13.60% of the proceeds to pay its debts owed to DKSH Corporate Shared Service Centre Sdn Bhd for the host and support services. Another 27.30% remaining will be used to boost its working and operational capital.
After this corporate action, WICO’s issued and paid-up capital will rise to 1,391,304,367 shares worth a total of IDR 695.65 billion from the initial1,268,950,977 shares of IDR 634.47 billion. (LK/ZH)