JAKARTA – PT Waskita Beton Precast Tbk (WSBP) will immediately restructure several of its financial obligations to the bank, vendor/suppliers, and bondholders. This action is expected to put an end to the current stock suspension in the capital market.

Fandy Dewanto, VP Corporate Secretary of Waskita Beton Precast, claimed that the company expects the suspension to be lifted by next week. “We have prepared a debt restructuring scheme,” he said during the online incidental public expose earlier today (15/3).

According to Dewanto, the debt restructuring includes issuing mandatory convertible bonds (MCB) to its bondholders and providing an equity conversion option to some of its vendors.

Therefore, after this restructuring process, the stock portion of PT Waskita Karya (Persero) Tbk (WSKT) will shrink to less than 60%.

As of now, WSKT controls 60% of the entire issued and paid-up capital of WSBP of 26.36 billion units. Then, public investors share another 33%, leaving the remaining 7% inside the treasury. (LK/ZH)