Waskita Karya to launch right issue

Waskita Karya to launch right issue


Jakarta (ANTARA News) - Publicly traded construction company PT Waskita Karya Tbk (WSKT) plans right issue for 3.653 billion of its right shares or 26.9 percent of its paid up capital in value.

The company said each holder of 100,000 shares has a right to be the first to buy 36,852 shares at a price of Rp1,450 per share.

The state construction company hopes to earn Rp5.297 trillion from the sales of the right shares, it said in its leaflet.

The fund would be used to finance the construction of toll road projects in Java and Sumatra and electric transmission project in Sumatra.

It said if some shareholders not fully using their right to buy, the new right shares would be offered to other shareholders, and if there were still shares left, they would offered to standby buyers.

The right issue was approved in a shareholders meeting held on June 10, 2015.