JAKARTA. PT Kioson Dagang Indonesia Tbk (KIOS), an e-commerce and technology issuer, has converted the debt of one of its subsidiaries, namely PT Retail Kita Indonesia (RKI), into capital.

Andrew, President Director of KIOS, said that RKI's debt to KIOS which was converted into capital payments was worth IDR 14 billion. The additional capital obtained by KIOS is equivalent to 14 thousand shares, with a nominal value of IDR 1 million per share.

"After this conversion, the company's share ownership in RKI will become 99.9992% of RKI's total paid-up and issued capital," said Andrew, in his official statement.

Andrew added that the debt conversion did not have a material impact on KIOS' operational performance or financial condition. "In the future, this transaction is expected to have an impact on increasing the company's business activities," explained Andrew.

According to idnfinancials.com data, KIOS experienced a loss of IDR 17.15 billion in the 2023 financial year. However, the company has total assets of IDR 166.62 billion, with cash and cash equivalents of IDR 1.12 billion. Meanwhile, the company's total equity was recorded at IDR 151.67 billion. (KR/LM)