JAKARTA - PT Waskita Beton Precast Tbk (WSBP) has been concluding debt-to-equity swap with 9 creditors via private placement phase III last Wednesday (20/11). This debt settlement was carried out following the peace agreement homologated by Commercial Court of Central Jakarta on June 28, 2022.

Quoted today (25/11), Fandy Dewanto, Corporate Secretary of WSBP, mentioned that the number of shares issued in this private placement phase III clocks up to 178.54 million shares worth IDR 50.81 each. Total conversion value reached IDR 9.07 billion worth of equity.

After this corporate action, WSBP reports issued and paid-up capital rising to 55.08 billion shares, consisting of 1 series A share, 26.36 billion series B shares, and 28.72 billion series C shares. Prior to this, its issued and paid-up capital was only at 54.90 billion shares.

The creditors that now have claims over WSBP’s shares include Artha Mulia Beton, Cipta Hasil Sugiarto, Daisan Teknik Maju Mandiri, Diesel Utama Indonesia, Inti Akustik Citramandiri, Manggala Jaya Putra, Rachmat Putra Industrial, Tytyan Abadi, and Wahana Mitra Perdana Lampung.

As of September 2024, this issuer reported equity deficiency of IDR 1.28 trillion, worsening from IDR 664.49 billion recorded as of September 2023.

As is known, the homologated peace agreement of WSBP and its creditors have been legally and permanently effective (inkracht) according to Supreme Court Decree No.1455 K/Pdt-Sus-Pailit/2022 dated September 20, 2022. (LK/ZH)