WICO - PT. Wicaksana Overseas International Tbk

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JAKARTA - PT Wicana Overseas International Tbk (WICO) is eyeing fresh funds of IDR 140 billion through the limited issuance of 1.4 billion shares from July 4 to 10, 2023. The proceeds are said to be spent on paying suppliers and funding its operations.

In the short prospectus quoted Wednesday (10/5), it is said that every 450,721 old shares will receive 453,538 new shares. The entire shares are sourced out of its stock portfolio, offering them for IDR 100 each.

DKSH, the controller of 67.99% of WICO's shares will gain 951.86 million shares according to their portions. Djajadi Djaja, the owner of 25.17% of WICO, will then receive 352.33 million shares, appropriate to his portion, but has declared not to exercise his entire rights.

As of now, its issued and paid-up capital consists of series A shares worth IDR 695.65 billion and series B shares of IDR 204.34 billion. The owners of series A shares include DKSH Holding AG, Switzerland of 67.99%, Djajadi Djaja of 25.17%, and the public of 6.84%.

Assuming that DKSH will be the only party that exercises its rights, while Djaja and public investors abstain, Series B shares owned by DKSH will rise to 40.62%. (LK/ZH)