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Bisnis Indonesia - Emiten BUMN karya: BEI patok harga teoretis WIKA
18 April 2024
By Dionisio D. Tonce
Bisnis, Jakarta – The Indonesian Stock Exchange (IDX) has established a theoretical price of Rp204 for PT Wijaya Karya (Persero) Tbk (WIKA) shares following the company's rights issue. This development has sparked inquiries about the future of WIKA's stock suspension.
IDX Trade Management and Operation representative Pande Made Kusuma Ari stated that WIKA's stock price at the conclusion of the rights issue in the regular market on Tuesday (16/4) stood at Rp240. Consequently, the theoretical price has been fixed at Rp204.
The theoretical price is calculated based on the company's rights issue ratio of 100,000,000:521,981,761 with an exercise price of Rp197 per share.
“The theoretical stock price for WIKA listed in JATS for both the regular and negotiation markets on 17 April 2024 was adjusted to Rp204,” Made Kusuma stated in an IDX announcement quoted on Wednesday (17/4).
Based on the prospectus, WIKA has offered 46.81 billion new series B shares with a nominal of Rp100 per share. Meanwhile, the exercise price has been set at Rp197 per share, representing 83.92% of the investment made. This rights issue is an entry point for Rp6 trillion of state equity participation (PMN).
Based on the indication of the schedule released by the company, the ex-right in the regular and negotiation markets was conducted yesterday. Meanwhile, it is scheduled to be conducted in the cash market on 19 April.
Regarding the possibility to end WIKA’s stock suspension, IDX Listing Director I Gede Nyoman Yetna explained that the basis for the company’s stock suspension on 18 December 2023 was the payment delay for Continuous Sukuk Mudharabah I Wijaya Karya Phase I Year 2020 Series A.
According to him, the Sukuk Holder General Meeting on 3 April gained the approval of sukuk holders for the company's proposal to repay Rp184 billion in sukuk funds, which includes compensation for late payment.
Nyoman mentioned that, in accordance with the suspension conditions, the IDX could lift the stock suspension if WIKA fulfilled the obligation that led to the suspension in the first place.
