PP PMN Published, Waskita Karya Ready For Rights Issue At The End Of 2021

ILLUSTRATION BETWEEN

JAKARTA - PT Waskita Karya (Persero) Tbk has received a Government Regulation (PP) regarding Additional State Equity Participation (PMN). With the issuance of the regulation, issuers with the stock code WSKT will increase their capital with a pre-emptive rights scheme (PMHMETD) or rights issue at the end of 2021.

Based on PP PMN, the additional capital statement into Waskita's share capital is Rp. SOE Minister Erick Thohir.

"Based on PP PMN, the State of the Republic of Indonesia made additional equity participation into Waskita's share capital of Rp. 7.90 trillion, which was sourced from the State Revenue and Expenditure Budget (APBN) for Fiscal Year 2021," said Waskita Karya's Director of Finance and Risk Management, Taufik Hendra Kusuma. , Thursday, December 16th.

In this regulation, the government considers that companies need to improve their capital structure and increase their business capacity in order to support the National Economic Recovery (PEN) program and the completion of the National Strategic Project (PSN) in the toll road sector.

Taufik said that with the receipt of the PP PMN, the OJK's effective statement can be obtained immediately and the rights issue process can be carried out immediately.

Taufik said WSKT is targeting rights issue funds of Rp 11.90 trillion. All funds obtained from PMN amounting to Rp7.90 trillion will be used for the completion of the company's 7 existing toll roads and a maximum of Rp4.00 trillion of public funds will be used as working capital and capex for the Company and its subsidiaries.