JAKARTA. PT AKR Corporindo Tbk (AKRA) has allocated extra capital worth IDR 130 billion to PT AKR Sea Transport (AST), a subsidiary engaged in the domestic shipping business.

Said extra capital is given alongside the increase of authorised capital, as well as the issued and paid-up capital of AST to IDR 500 billion and IDR 404.9 billion. Previously, AST’s authorised capital was only IDR 300 billion, while the issued and paid-up capital clocked up to IDR 274.9 billion.

In this capital increase, all new shares were taken over by AKRA as its controlling shareholder, with ownership portion of 99.99%. “The proceeds will be spent on vessel acquisition in order to support operational activities of AST,” said Suresh Vembu, Director and Corporate Secretary of AKRA, in the official disclosure.

After the capital increase, the number of AST’s shares has risen to 404,900 shares with total face value of IDR 404,900 billion. AKRA controls 404,899 shares worth IDR 404.89 billion, while the remaining 1 share belongs to PT Usaha Era Pratama Nusantara.

According to IDNFinancials record, AKRA’s stock went up 0.60% or 10 points to IDR 1,665 per share at the end of the first trading session today (28/2). Since the beginning of this year, it has grown 11% or 165 points higher. (KR/ZH)