Wijaya Karya to Issue Securities Worth IDR 2 Trillion, Including IDR 500 Billion Sukuk Mudharabah

Indonesian state-owned construction company, Wijaya Karya (WIKA), has announced plans to issue securities worth IDR 2 trillion, comprising of Sukuk amounting to a maximum of IDR 500 billion and sustainable bonds of up to IDR 1.5 trillion, according to local media reports.

The IDR 500 billion Sukuk issuance is part of the Public Offering (PUB) Sukuk Mudharabah Wijaya Karya 1 with a target fund of IDR 1 trillion. Proceeds of the Sukuk will be used to finance working capital infrastructure and building projects in line with Shariah principles, according to local media reports.

Meanwhile, the IDR 1.5 trillion bond offering is part of WIKA’s series of Sustainable PUB Phase 1 Year...