JAKARTA - PT Totalindo Eka Persada Tbk (TOPS) will conduct a rights issue by issuing 4 billion new shares. The funds from this corporate action will be used to pay off debt and strengthen its capital.
As quoted from the company disclosure, the plan will be decided at the company's Extraordinary General Meeting of Shareholders (EGMS) on 23 December 2019. After being approved at the EGMS, the corporate action plan will be conducted no later than 12 months after the meeting.
Shareholders who choose not to take part in this corporate action will have their ownership diluted by 10.72%.
According to the company's report, the company's authorized capital was recorded at Rp 2 trillion, while its issued and paid-up capital was recorded at Rp 666.60 billion. The shareholders of the company including PT Totalindo Investama Persada (63%), PT Mahkota Properti Indo Senayan (12.10%), and the public (24.87%). (LK/AR)