JAKARTA. PT Kimia Farma Tbk (KAEF) would launch a rights issue by offering mandatory convertible bonds.
The capital raise through preemptive rights, or a rights issue, would be granted to the stockholders. They could participate in the issuance of the mandatory convertible bonds, of which amount to 2,779,397,000 Series B shares, valuing at IDR 100 each.
In the information disclosure, quoted Tuesday (13/7), it is stated that the convertible bonds would be offered through a rights issue. The state-owned pharmaceutical company would await approval regarding this plan from the Extraordinary General Shareholders Meeting to be held on July 27, 2021.
Kimia Farma claims that the funds gathered from this rights issue would be allotted to paying maturing debts, raising working capital, and expanding business to support the digital transformation.
The company is currently solidifying its operational activities by adopting digital transformation. Thus, its downstream and upstream processes, from the factory, distribution, and pharmaceutical retail networks would be connected through one information technology system. (AM/ZH)