JAKARTA - PT Totalindo Eka Persada Tbk (TOPS) is planning to issue new shares through a rights issue in March 2020 to support the company’s operation.
The company is planning to issue as many as 4 billion new shares with a nominal value of Rp 20 per share. Proceeds from the corporate action will be used, among others, as capital expenditure (capex).
In addition, for 2020 TOPS is also targeting Rp 4 trillion in new contracts. The company is confident that it will achieve the target due to activities in the property sector and developers’ return to several projects.
“We can achieve Rp 3 trillion to 4 trillion [in new contracts] in 2020,” said TOPS Vice President Director Joni after the company’s EGM at the Indonesia Stock Exchange (IDX) Building as quoted by Bisnis.com, Monday (23/12). (MS)