Jakarta - PT Krakatau Steel Tbk intends to issue Rp800 billion in mandatory convertible bonds series B, which will be converted into new company shares.

Based on information disclosed on Thursday (6/2), the company will hold a GMS on July 8, 2022, to seek approval from shareholders regarding the plan.

This series B convertible bond has a tenor until December 30, 2027, and must be converted into new company shares at maturity through increasing capital without preemptive rights.

In connection with the plan to issue the series B convertible bond, KS obtained shareholder approval on July 29, 2021, but has not been able to withdraw the series B convertible bond because several requirements have not been agreed upon between the company and PT Sarana Multi Infrastruktur as the investment implementer.

The funds raised through the issuance of the Series B OWK are entirely for financing KS working capital for the purchase of slabs.

The issuan