PT Pakuwon Jati Tbk (PWON) plan to raise capital without a rights issue (ER) or private placement of a maximum of Rp 2.47 trillion.
In the prospectus released PWON, Thursday (19/5), the company plans to issue as much as 4.81 billion shares, or 10% of the total issued and fully paid.
The price of the new shares will be offered at a price of at least Rp 514 which is the average price PWON shares in the last 25 days.
Minarto Basuki, Director PWON said the plan is still related private placement with the company\'s plans in June 2014 ago.
"In 2014 the AGM has approved the private placement but not our execution. Prior to the expiration of us ask again to the AGM on June 27, 2016," he said at KONTAN, Thursday (19/5).
Therefore, said Minarto, investors have yet been a standby buyer in the corporate action, the new company will submit the plan to the AGM.
PWON returns filed plans private placement to anticipate funding needs several years into the future. Because the company can not predict future market conditions so that the company wants to anticipate future conditions to strengthen its capital.
Minarto say, all the proceeds from the private placement will be used to strengthen its capital structure in order develop the company\'s business.
If approved by the AGM, the private placement will be carried out gradually over the next two years starting from the approval of the general meeting of shareholders.
Total capital is placed and paid in full at the end of the period of December 31, 2015 reached Rp 1.2 trillion. While the company\'s total assets reached Rp 18.7 trillion and Rp 9.45 trillion in equity.
After placment private company\'s assets will amount to Rp 21.2 trillion and equity will be increased by 26% to Rp 11.93 trillion.