MIDI - PT. Midi Utama Indonesia Tbk

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JAKARTA. PT Midi Utama Indonesia Tbk (MIDI), a retail issuer that owns a network of minimarkets and supermarkets in Indonesia, has distributed a capital injection worth IDR 70 billion to one of its subsidiaries, namely PT Lancar Wiguna Sejahtera (LWS).

For the record, LWS is a business entity owned by MIDI which operates the Lawson convenience store franchise from Japan. The main focus of the products sold by Lawson Indonesia is ready-to-eat food and drinks.

This capital injection was given in order to increase LWS's issued and paid-up capital amounting to IDR 100 billion. The increase in issued and paid-up capital is equivalent to 103.52 million shares, with a nominal value of IDR 100 and an exercise price of IDR 966 per share.

"The company and other shareholders will take a proportional share," wrote MIDI Management, in its official statement.

After the capital increase, MIDI's portion of share ownership in LWS remained at 70%. Then the share ownership portion of PT Amanda Cipta Persada is 20.34%, PT Cakrawala Mulia Prima 4.83%, and PT Perkasa Internusa Mandiri 4.83%.

According to idnfinancials.com data, MIDI had cash and cash equivalents of IDR 326.17 billion as of September 30, 2023. The company's total assets were recorded at IDR 7.39 trillion and its total equity was IDR 3.75 trillion. (KR/LM)