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CORPORATE ACTION - JAKARTA. PT Wijaya Karya (Persero) Tbk (WIKA) has increased its capital participation in PT Wijaya Karya Serang Panimbang (WSP).
WIKA is the parent company of PT WSP with an ownership of 82.98% and as the party providing the additional capital injection. Meanwhile, PT WSP is a subsidiary of WIKA and as the party receiving the capital injection.
In addition, other WSP shareholders are PT PP (Persero) Tbk (PTPP) which is a State-Owned Enterprise (SOE) that each have an affiliate relationship, because they are directly controlled by the same main shareholder, namely the Government of the Republic of Indonesia.
WIKA Company Secretary Mahendra Vijaya said, the value of the transaction for the additional capital participation to PT Wijaya Karya Serang Panimbang is as many as 750.13 million shares with a nominal value of Rp 100 per share. This value is entirely taken by WIKA as much as 750.13 million shares or worth Rp 75.01 billion.
“This transaction is a transaction of additional capital participation to maintain the percentage of share ownership, so this transaction only needs to be reported to OJK as in the provisions of Article 6 POJK 42/2020,” he said in an information disclosure.
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According to Mahendra, the transaction was carried out on February 1, 2024 by signing the Shareholders' Decision Outside the Meeting on Approval of Increase in Issued and Paid-up Capital at WSP.
WSP proposed an additional capital injection through the issuance of new shares in storage to all WSP shareholders as many as 904 million shares with a nominal value of Rp 100 per share, or as much as Rp 90.4 billion.
If detailed based on the share offering of PT WSP according to the ownership portion, WIKA holds 82.98% or 750.12 million shares with a nominal of Rp 75.01 billion.
PTPP owns 16.14% or 145.9 million shares with a nominal of Rp 14.59 billion. Then, PT Jababeka Infrastructure owns 0.88% or 7.96 million or Rp 756.72 million.
Following up on WSP's request, WIKA is willing to fulfill the capital participation through letter Number SE.01./A.DIR.01359/2023 dated July 25, 2023.
The consideration for this transaction is for working capital needs to complete the construction of the Serang-Panimbang toll road, as well as to maintain WIKA's share ownership in WSP.
This transaction does not contain a conflict of interest as referred to in POJK 42/2020 and this transaction is not a Material Transaction as referred to in POJK 17/2020.
