JAKARTA. PT Wijaya Karya (Persero) Tbk (WIKA) has channelled extra capital of IDR 75 billion to one of its subsidiaries, PT Wijaya Karya Serang Panimbang (WSP).

Said added capital is granted in relation to the increase of issued and paid-up capital of WSP to 904 million shares. With the value set to IDR 100 each, WSP’s total issued and paid-up capital will rise to IDR 9.04 billion shares.

In regard to this capital increase, WIKA has exercised its rights over all shares issued by WSP worth a total of IDR 75 billion. This then brings WIKA’s portion in WSP increasing to 82.98%, while PT PP (Persero) Tbk (PTPP) saw decline in its portion to 16.14%, and PT Jababeka Infrastruktur claimed another 0.88%.

“The reason behind this transaction is enhancing working capital to complete the construction of Serang-Panimbang Toll Road construction, as well as maintaining portion in WSP,” Mahendra Vijaya, Corporate Secretary of WIKA, mentioned in the information disclosure.

According to IDNFinancials data, WIKA recorded cash and cash equivalent of IDR 1.78 trillion as of September 2023. Its total assets were IDR 66.65 trillion, while the total equity reached IDR 10.97 trillion. (KR/ZH)