JAKARTA – PT Adhi Karya (Persero) Tbk (ADHI) secures fresh funds of IDR 1.97 trillion to complete the construction of a toll road in Yogyakarta. The recently channelled capital originates from the government through its participation in the first day of ADHI’s rights issue last week (28/10).
Faried Budiyanto, Corporate Secretary of Adhi Karya, confirmed that the government’s capital investment had been full received on the first day of the trading. “The trading process of ADHI’s rights issue takes place until November 8, 2022,” he further revealed in the information disclosure quoted today (31/10).
Some of ADHI’s infrastructure projects that are underway include the Solo-Yogyakarta-YIA Kulon Progo Toll Road, the Yogyakarta – Bawen Toll Road, and the Drinking Water Supply System of Karian-Serpong (East).
By the time this corporate action is concluded next week, ADHI expects to end up with IDR 3.8 trillion of fresh funds. They will be allocated to those three national strategic projects mentioned above. Then, it will be utilised to improve the eastern route of South Sumatra, the Cikunir-Ulujami JORR Elevated Toll Road, and the Integrated Waste Treatment Facility of Industrial Zone of Medan.
Aside from the government, ADHI also wishes for other shareholders to exercise their rights in the corporate action. The applied ratio is set to 10 million:19.78 million, meaning that for every 10 million old shares, the holder will be granted a claim over 19.78 million rights issue shares. (LK/ZH)