Waskita Beton plans higher debt-to-equity conversion ceiling
The Indonesian company will seek shareholder approval on 23 October 2026 to accommodate additional claims from three trade creditors.
PT Waskita Beton Precast Tbk. (WSBP) plans to add Rp6,095,930,455 in trade creditor claims to its debt-to-equity conversion programme, raising the maximum debt eligible for conversion to Rp1,718,983,057,509, according to its disclosure dated 13 October 2026.
The proposal would allow WSBP to issue up to 119,975,013 additional series C shares at Rp50.81 each through a private placement. The maximum number of series C shares planned for the conversion would rise from 33,711,614,004 to 33,831,589,017.
The additional claims belong to three trade creditors whose verification was completed between 10 April 2025 and 12 August 2026. WSBP said the obligations arose from business transactions between 2018 and 25 January 2022, before its debt payment suspension proceedings began, rather than from new borrowing after those proceedings ended.
The company said the higher ceiling would accommodate verified claims not previously included in the debt settlement. It described the proposal as part of implementing its court-approved settlement agreement.
WSBP will seek approval at an extraordinary general meeting on 23 October 2026 to ratify resolutions from shareholder meetings held on 30 June 2023 and 22 May 2025. The placement remains subject to shareholder approval and other applicable legal requirements.
The company said the conversion would dilute existing shareholders, including parent PT Waskita Karya (Persero) Tbk. (WSKT), whose ownership in WSBP could fall to 26.28 per cent.
