PT Wijaya Karya (Persero) Tbk (WIKA), a state-owned construction company, states that is is still finalizing plans to issue of new shares (rights issue) in the second half of this year. Company still plans to issue new shares as an option to fund its projects and business expansion overseas, though it has proposed to attain the state capital participation (PMN) amounting to Rp 4 trillion in the State Budget Amendment (APBN-P), 2016.
Wijaya Karya targets the rights issue proceeds to be Rp 2 trillion. Bintang Perbowo, the Director of Wijaya Karya said the company plans to offer new shares amounting to 10%, provided that the stock portion of the government remains the majority, or a minimum of 55% of the total shares.
The share of government’s stake in Wijaya Karya is as much as 65.05% or as much as 4 billion shares, then the public of 34.95%, or about 2.14 billion shares.
“In these circumstances, whether or not there is PMN, we plan for the rights issue,” said Bintang. (*)
Add Comment