JAKARTA – PT Fast Food Indonesia Tbk (FAST) is targeting to raise IDR 80 billion by issuing 533.33 million shares at IDR 150 per share. This plan will seek approval from the Extraordinary General Meeting of Shareholders (EGMS) on 24 April 2025.

In a disclosure cited on Tuesday (18/3), the funds obtained from this private placement will improve the company’s working capital. The company’s capital will increase from IDR 252.54 billion to IDR 332.54 billion, and the liabilities-to-equity ratio will decrease to 10.46 times from 14.09 times.

As of December 2024, FAST recorded negative working capital of IDR 1.25 trillion, with total short-term liabilities of IDR 2.09 trillion. The ratio of total consolidated liabilities of IDR 3.55 trillion to total assets of IDR 3.80 trillion stands at 90%.

Currently, FAST’s authorised capital is IDR 798 billion, while issued and fully paid capital is recorded at IDR 199.51 billion, with a portfolio share value of IDR 598.48 billion.

The structure of fully paid and issued capital comprises PT Gelael Pratama (GP) 40%, PT Indoritel Makmur Internasional Tbk (DNET) 35.84%, BBH Luxembourg 7.90%, the public 16.18%, and treasury shares 0.08%.

After the private placement, FAST’s authorised capital will remain IDR 798 billion, while issued and fully paid capital will increase to IDR 226.18 billion, with portfolio shares at IDR 571.81 billion and additional paid-in capital at IDR 53.33 billion.

The structure of fully paid and issued capital will be GP 41.18%, DNET 37.51%, BBH Luxembourg 6.97%, the public 14.27%, and treasury shares 0.07%. (LK)