JAKARTA. A subsidiary of PT Midi Utama Indonesia Tbk (MIDI), PT Lancar Wiguna Sejahtera (LWS), has secured extra IDR 200.09 billion from several affiliated entity of Djoko Susanto, the owner of Alfamart retail chain.

According to the information disclosure in Indonesia Stock Exchange (IDX), LWS, the owner of Lawson convenience store chain, has issued 207,142,856 new shares of IDR 100 each for IDR 966 per share, thus allowing the company to raise IDR 200.09 billion in total.

Some of the affiliated entities of MIDI that have participated in said shares acquisition include PT Amanda Cipta Persada (ACP) of 138,785,714 shares worth IDR 134.06 billion. With this action on hand, ACP, which had previous held 5 million shares of LWS (1%), now secures 143.78 million units of LWS's shares or 20.34%. In the meantime, PT Cakrawala Mulia Prima (CMP) also takes over 34,178,571 units of LWS's shares for IDR 33.01 billion, raising its stock portion to 4.83%. The same portion transfer also occurs in PT Perkasa Internusa Mandiri (PIM), bringing MIDI's ownership percentage in Lawson down from 99% to 70%. Nevertheless, MIDI is still listed as the controlling shareholder of LWS.

The management of MIDI hopes that this extra capital will reinforce LWS, thus increasing is market share and absorption rate of consumers' needs. The end result of LWS's progress will become a positive contribution towards the consolidated financial performance, the management explained. (AM/ZH)