JAKARTA. PT Waskita Beton Precast Tbk (WSBP), a precast concrete manufacturer under PT Waskita Karya (Persero) Tbk (WIKA), announces its plan to increase capital without pre-emptive rights, or private placement, of 178.54 million shares.

This is the Private Placement Phase III initiated by the company in relation to debt conversion from several creditors. This debt conversion follows the peace agreement homologated by panel of judges of Commercial Court of Central Jakarta District Court.

Prior to this, in the first phase of private placement, WSBP had issued 28.19 billion shares. Meanwhile, the second phase of private placement issued 350.78 million shares. Thus, this brings total shares issued by the company for debt-to-equity swap to 33.6 billion shares.

“Private placement will be carried out with conversion price of IDR 50.81 per share, obtained from calculating volume-weighted average price (VWAP), as regulated in the peace agreement,” said the management of WSBP in the official statement.

After this Phase III, issued and paid-up capital of WSBP will rise to 55.08 billion shares from the previous 54.91 billion shares. (KR/ZH)