WSBP - PT. Waskita Beton Precast Tbk

Rp 17

-1 (-6,00%)

JAKARTA - PT Waskita Beton Precast Tbk (WSBP) will conduct a private placement to restructure its debts to equity and bonds. This plan will be asked for approval from shareholders next Friday (30/6). 

In the information disclosure quoted Tuesday (27/6), this issuer will convert debts to equity worth IDR 1.70 trillion via the issuance of 33.60 billion shares. On top of this, WSBP will convert the debts to Mandatory Convertible Bonds (MCB) to obligors worth IDR 1.85 trillion, and other financial creditors of IDR 671.12 billion. The bonds will also be converted to equity in the tenth year of restructuring.

Until December 2022, WSBP recorded net working capital of negative IDR 4.28 trillion and total liabilities of IDR 8.06 trillion. The current ratio was 34.25%, and the debt-to-asset ratio of 135.27%.

This company plans to issue series A shares, which are only owned by PT Waskita Karya (Persero) Tbk (WSKT), as well as series B and C, which will be issued as the result of debt conversion to equity, as well as MCB conversion to equity in the tenth year. (LK/ZH)