Wahana Interfood Raises IDR 1.2 Trillion Through Rights Issue

PT Wahana Interfood Nusantara Tbk (COCO), or Win&Co Group, has successfully absorbed all shares offered in its third limited public offering (rights issue). The high participation from existing shareholders and oversubscription of the remaining shares reflect strong investor confidence in the company’s transformation plans into a regional fast-moving consumer goods (FMCG) company. In this corporate action, shareholders exercised approximately 95% of their pre-emptive rights, while the remaining available shares were oversubscribed by 2.65 times. Win&Co offered up to 10.68 billion new shares at an exercise price of IDR 120 per share, potentially raising up to IDR 1.28 trillion. The rights issue exercise period took place from 14 to 21 July 2026. The success of the rights issue, achieved amid challenging market conditions, is seen as a positive signal for the company’s business prospects and expansion strategy. Approximately 92% of the proceeds will be used to support business expansion, primarily the planned acquisition of PT Sari Murni Abadi (Momogi Group). The remaining 8% will be allocated for operational working capital, including the purchase of raw materials, packaging, marketing activities, and research and development. Win&Co Group President Director Sugianto Soenario stated that the strong investor interest reflects confidence in the company’s transformation direction. This confidence is supported by several factors, including Win&Co’s position as the only integrated cocoa and chocolate producer listed on the Indonesia Stock Exchange, its scalable production capacity, and the Momogi acquisition plan, which will expand market access through Bibica Corporation’s network in Vietnam, one of Asia’s fastest-growing consumer markets. Following the completion of the rights issue, the company will focus on executing its business transformation, including strengthening its chocolate product lines under the Schoko, D’Lanier, and Winfil brands. These products are also planned to enter the Vietnamese market through Bibica’s network, while optimising synergies between entities within the group.