JAKARTA - PT Solusi Sinergi Digital Tbk (WIFI) plans to issue 4.96 billion shares in rights issue valued at IDR 100 per share. The proceeds of this corporate action will be utilised as capital expenditure budget for its subsidiary.

In the information disclosure quoted Tuesday (1/8), Hermansjah Haryono, President Director of WIFI, said that this plan will be requested for approval during the Extraordinary General Meeting of Shareholders tomorrow (2/8). The proceeds of the rights issue will be used by its subsidiary, PT Integrasi Jaringan Ekosistem (IJE), as capital expenditure to establish a fibre optic network infrastructure.

As of now, WIFI’s authorised capital is worth IDR 603 billion, while its issued and paid-up capital was IDR 225.53 billion. The stock in its portfolio is worth IDR 377.46 billion. The shareholder structure consists of PT Investasi Sukses Bersama (ISB) of 51.28%, PT Tinawati of 0.30%, and the public of 48.42%.

Assuming that this corporate action will not be joined by below-5% shareholders, after this rights issue, WIFI’s authorised capital will rise to IDR 1 trillion, while its issued and paid-up capital grows to IDR 481.44 billion, and the stock in portfolio increases to IDR 518.55 billion. The shareholder structure will consist of ISB of 76.87%, Tinawati of 0.45%, and public investors of 22.68%. (LK/ZH)