Wahana Interfood to Conduct Rights Issue - BCA Sekuritas

PT Wahana Interfood Nusantara Tbk (COCO) will conduct a Capital Increase with Pre-emptive Rights (PMHMETD III), or rights issue, following approval at the Extraordinary General Meeting of Shareholders on 17 April 2026. In its abridged prospectus dated 21 April, COCO plans to issue up to 10,678,367,772 new shares with a nominal value of Rp100 each, equivalent to up to 75.00% of the company’s paid-up capital after the PMHMETD III. The exercise price has yet to be determined, and each shareholder recorded in the company’s Register of Shareholders at the close of trading on the Indonesia Stock Exchange on 8 July 2026 will be entitled to 3 HMETD rights per share held, with each right allowing the purchase of one new fully paid share upon exercise. This corporate action will take place from 10 July 2026 to 17 July 2026, after which unexercised HMETD rights will expire. The shares offered in this PMHMETD III will have equal rights in all respects to the company’s existing issued shares. Concurrently with the PMHMETD III, the company will issue up to 1,186,485,308 Series I warrants, representing up to 33.33% of the paid-up capital at the time of the registration statement. Shareholders who do not exercise their HMETD rights will face dilution of 75.00%, with a maximum of 76.92% following the execution of this corporate action. All net proceeds from the PMHMETD III, after deducting emission costs, will be used by the company, with approximately 98.7% allocated for business expansion and investments, specifically through the planned acquisition of a company engaged in the production and distribution of confectionery and snacks. The remaining funds will support the company’s operational working capital, including but not limited to the purchase of raw materials and packaging, research and development costs, marketing and market expansion expenses, professional services fees such as advisor and consultant fees for business development, and employee training costs to support business growth. The recording date for shareholders entitled to HMETD rights is 8 July 2026, with distribution on 9 July 2026, listing of HMETD on the Indonesia Stock Exchange on 10 July 2026, and the trading and exercise period from 10 to 17 July 2026.