Jakarta - PT Eterindo Wahanatama Tbk (ETWA) plans to increase its capital without providing Pre-emptive Rights to a maximum of 3.7 billion shares, 79.26% of the issued capital.

Based on a brief prospectus published Thursday (26/8), the private placement plan is carried out by converting debt into shares.

To realize this private placement plan, ETWA will hold an EGMS on October 14, 2021.

PT Mordred Investama Indonesia has receivables from the company amounting to Rp232.52 billion and the company plans to convert the debt into shares and add capital to the company which investors will take part in.

As a result, investors have the opportunity to become the sole controlling shareholder of the company, owning 79.26 % of shares issued and to be issued by the company.

Shareholders who do not participate in this private placement plan will have their share ownership reduced by up to 20.74%.

By conducting this private placement, ETW