JAKARTA - PT Chandra Asri Tbk (TPIA) will hold its third rights issue by issuing 7,166,479,740 new shares at a price of Rp 200 per share. The company expects to obtain Rp 1.43 trillion from the corporate action.
Quoted from the disclosure of company information, the corporate action plan will be decided at the company's General Meeting of Shareholders (GMS) on 5 January 2020. And, the plan will be implemented no later than 12 months after the GMS. The entire proceeds of this corporate action will be used as the company's capital expenditure (CapEx) budget to increase the production capacity of the parent company and subsidiary.
Shareholders who do not exercise their rights in the corporate action will have their ownership be diluted by 20% at the most. At present, the authorized capital of the company is Rp 12.64 trillion, while its issued and paid-up capital is Rp 3.56 trillion. The composition of shareholders in the company is as follows: PT Barito Pacific Tbk (41.51%), SCG Chemicals Company Limited (30.57%), Prajogo Pangestu (14.78%), Marigold Resources Pte Ltd (4.75%), and the public (each below 5%) (8.39%). (LK/AR)