Chocolate Producer COCO Plans Major Rights Issue

Jakarta — PT Wahana Interfood Nusantara Tbk (COCO), a cocoa and chocolate processing industry operator, is preparing a corporate capital increase action through a rights issue scheme.

Corporate Secretary Gendra Fachrurozi stated in a disclosure that the company plans to implement its third rights issue (PMHMETD III) by issuing up to 10.678 billion new shares.

“The company plans to conduct PMHMETD III by issuing up to 10.678 billion new shares,” Gendra said.

He explained that the new shares are registered shares with a nominal value of Rp100 per share. Upon completion of the rights issue, the resulting shares will have equal rights and status as the existing fully paid and placed shares, including dividend rights.

In addition to the new share issuance, the company also plans to issue company series warrants that will accompany the shares resulting from the rights issue implementation. Pursuant to Financial Services Authority (OJK) regulations, the number of warrants that can be issued is a maximum of 35 per cent of the number of shares that have been placed and fully paid at the time the registration statement is submitted to the regulator.