Jakarta - PT Wahana Interfood Nusantara Tbk (COCO) plans to increase its capital by granting rights issues of a maximum of 331.76 million new shares.

According to the company's brief prospectus published on Tuesday (24/9), COCO will hold an EGMS to seek shareholder approval regarding the rights issue I plan on September 29, 2021.

The company's rights issue I plan aimed to increase the company's capital structure, which will benefit business activities, company performance, and COCO's competitiveness in Indonesia's cocoa and chocolate industry market.

With improved performance and competitiveness, the company hoped that it would boost revenue and net profit to provide investment returns for all its shareholders.

COCO will use approximately 85% of the funds that it will raise from rights issue I to pay off debts to BCA, and the rest for the company's working capital.

Shareholders who do not exercise their rights