Sky Energy will hold a rights issue
JAKARTA. PT Sky Energy Indonesia Tbk (JSKY) will again ask for approval from its shareholders at the Extraordinary General Meeting of Shareholders (EGMS) to conduct a rights issue to raise Rp 84.97 billion.
In the disclosure published on the Indonesia Stock Exchange (IDX) website, the EGMS will be held on 25 September 2020. On 25 July 2019, the company's EGMS has approved the rights issue, however it was considered void because 12 months had passed.
According to the disclosure, JSKY plans to issue 1,699,448,100 new shares with a nominal value of Rp 50 per share. Shareholders who do not exercise their rights will have their shares diluted by a maximum of 45.54%.
All proceeds from the rights issue will be used to strengthen the company's capital structure, said Frisky Kurniawan, Corporate Secretary of Sky Energy Indonesia.
JSKY is a renewable energy company. Apart from producing and marketing solar panels, this year JSKY is also working on a number of solar power generation projects in various regions, such as in Merauke (Papua) and Sorong (West Papua). (AM/AR)