Jakarta - PT Waskita Beton Precast Tbk (WSBP) plans to increase its capital without issuing preemptive rights or engaging in a private placement by issuing 32.715 billion shares of common stock.

According to the company's prospectus, published on Tuesday (11/8), the private placement is part of a plan to convert the company's creditors' debts into equity.

In its private placement plan, WSBP will convert the value of its creditor debt of Rp1.434 trillion into the company's equity of Rp32.715 billion.

The private placement plan is expected to affect the company's ability to strengthen marketing performance to obtain strategic new projects and improve financial conditions.

The company's existing shareholders may have their ownership diluted by up to 55.4% due to the private placement plan for the implementation of the peace agreement.

To realize this plan, the company will hold an EGMS on December 14, 2022.