JAKARTA - PT Sreeya Sewu Indonesia Tbk (SIPD) has reportedly allocated IDR 496.23 billion as extra capital to its subsidiary, PT Belfoods Indonesia. The money originates from the proceeds of a rights issue held in late H1 2023.

Sik Wei Tjien, Director of SIPD, mentioned that 75% of added capital put in Belfoods will be used as capital expenditure, while the remaining portion will serve as working capital. “The rights issue proceeds amount to IDR 499.99 billion, and the fee reaches IDR 3.76 billion,” she mentioned in the information disclosure quoted today (2/1).

It is known that this company has issued 499,999,477 shares with new face value of IDR 1,000 each. The applicable ratio is 1 million old shares are entitled to 373,384 new shares. The price is set to IDR 1,000 per share.

PT Great Giant Pineapple (GPP), the main shareholder of SIPD has carried out all of its portions in said corporate action. After the rights issue, SIPD’s authorised capital remains unchanged at IDR 3.84 trillion, while its issued and paid-up capital rises to IDR 2.05 trillion from ID 1.55 trillion. Lastly, the stock in its portfolio shrinks from IDR 2.28 trillion to IDR 1.78 trillion. (LK/ZH)