JAKARTA. PT Wijaya Karya (Persero) Tbk (WIKA) is scheduling capital increase with pre-emptive rights, also known as rights issue.

The management of WIKA mentioned that the number of shares issued by the company is 92.24 billion series B shares. Each share has a face value of IDR 100.

“The proceeds gained from the rights issue, after deducting all kinds of costs, will be used as working capital in order to wrap up national strategic project and capital city project,” the management of WIKA said in the information disclosure in Indonesia Stock Exchange (IDX).

In addition, WIKA will utilise a portion of the rights issue proceeds to improve its financial condition.

WIKA will ask for approval from General Meeting of Shareholders to hold rights issue. The Extraordinary General Meeting of Shareholders is scheduled to take place on Janaury 12, 2024.

According to IDNFinancials data, WIKA opened today’s trading at IDR 338 per share. Meanwhile, within the past month of trading, the stock was down 50 points or 12.82% lower from IDR 390 per share. (KR/ZH)