Bisnis.com, JAKARTA — Who says problems in the form of piles of debt only haunt state-owned construction companies?
PT Acset Indonusa Tbk. (ACST), an issuer of the Astra Group which is engaged in integrated construction, seems to be facing a similar problem. And, just like the government is planning to inject capital into BUMN Karya issuers, the Astra Group will take steps similar to ACST.
The difference is, the corporate action that will be carried out by the Astra Group is more like the sound of a proverb: out of the left pocket, in the right pocket.
As announced through an information disclosure on the Indonesia Stock Exchange (IDX) website, Monday (12/7/2021), Astra plans to inject additional capital into ACST through PT Karya Supra Perkasa, which incidentally is the company’s controlling shareholder. Capital increase is carried out through a scheme without pre-emptive rights or private placement.
The maximum number of new shares to be released is 15 billion shares with a nominal value of Rp. 100 per share. Although the implementation price has not yet been announced, the value of this private placement is as high as Rp. 1.5 trillion.
A total of IDR 560.2 billion of the fund is planned to be used for working capital. The rest, which is around Rp939.3 billion, will be allocated to pay debts.
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