JAKARTA – PT Perdana Karya Perkasa Tbk (PKPK), a mining service provider, is arranging a rights issue of 600 million shares of IDR 200 each. This corporate action is intended to fund the acquisition of 99.94% of PT Bhakti Harapan Sentosa (BHS) worth IDR 234.42 billion.
In the information disclosure quoted Wednesday (26/10), Haryanto Sofian, President Director of Perdana Karya Perkasa, mentioned that the acquisition will be paid through equity participation by PT Deli Pratama Batubara (DPB), the owner of PKPK’s shares in BHS.
“The shareholder of PKPK will channel capital in cash which will be utilised as working capital,” Sofian added.
Therefore, DPB will step in as the standby buyer should there be many unclaimed shares left by other shareholders, capped at IDR 5 billion. PKPK and BHS are linked through DPB. After this corporate action, DPB will still be listed as the controller of PKPK, while BHS will be under PKPK.
The rights issue is projected to take place no later than 12 months after the approval from the Extraordinary General Shareholders Meeting on Thursday (27/10).
Until July 2022, PKPK’s authorised capital reached IDR 300 billion, while its issued and paid-up capital clocked up to IDR 120 billion. DPB controlled 50.09% of it, while public investors claimed the remaining 49.91%. Lastly, the stock in the portfolio is worth IDR 180 billion. (LK/ZH)