JAKARTA – PT Waskita Beton Precast Tbk (WSBP) will convert its debts to its creditors worth IDR 1.43 trillion to equity by issuing 32,715,232,945 shares. This corporate action plan will be further discussed in the Extraordinary General Shareholders Meeting on December 14, 2022.
In the short prospectus quoted Tuesday (8/11), this subsidiary of WSKT will convert the debts to the holders of Bonds I Phase I and Phase II Year 2019, as well the debt owed to PT Bank DKI, to mandatory convertible bonds (MCB).
WSBP currently has authorised capital of IDR 6.32 trillion, while its issued and paid-up capital reaches IDR 2.63 trillion. Its shareholders consist of WSKT, which controls 59.99% of the shares, followed by Koperasi Waskita of 0.00%, and public investors plus its treasury stock of 40%.
After this rights issue, WSBP’s authorised capital is estimated to rise to IDR 9.5 trillion, while its issued and paid-up capital will be doubled to IDR 5.90 trillion. The stock in its portfolio will be worth IDR 3.59 trillion. Then, WSKT’s portion will be reduced to 26.77%, while Koperasi Waskita's will still be at 0.00%, followed by public investors' of 17.85% and creditors' of 55.38%. (LK/ZH)