JAKARTA. PT Agung Podomoro Land Tbk (APLN), a property company, will issue as many as 3.98 billion new shares in a rights issue, equivalent to 17.07% of the issued and fully paid capital.
With an exercise price of Rp 240 per share, the company may raise up to Rp 956.83 billion. The proceeds from the rights issue will be used for refinancing, pay some of its obligations, and working capital.
PT Indofica and Trihatma Kusuma Haliman will exercise their rights to buy 3.2 billion shares (Rp 769.33 billion) and 127.77 million shares (Rp 30.66 billion) respectively.
The provisions in the rights issue are that every holders of 34 shares whose names are registered in the register of shareholders (DPS) on 10 March 2020 are entitled to seven Pre-emptive Rights, which gives the holder the right to buy one new share. (AM/AR)