JAKARTA - PT Adi Sarana Armada Tbk (ASSA) will hold a rights issue by issuing 1.25 million shares with a nominal value of Rp 100 per share. This corporate action plan will be decided at the company's Annual General Meeting of Shareholders (AGM) on 3 April 2020.
As quoted from the company's disclosure published today (26/2), Hindra Tanujaya, Corporate Secretary of PT Adi Sarana Armada Tbk (ASSA) said the funds from the corporate action will later be used for debt payments and business development. Shareholders that choose not to exercise their rights in the rights issue will have their stakes diluted by 26.9% at most," he said.
This corporate action plan will be implemented no later than 12 months after being approved by the AGMS and the Financial Services Authority (OJK).
At present, ASSA's authorized capital was recorded at Rp 800 billion, while its issued and paid-up capital was recorded at Rp 339.75 billion. (LK/AR)