JAKARTA - PT Plaza Indonesia Realty Tbk (PLIN) is considering to postpone a planned rights issue due to the unconducive stock market condition during the coronavirus (COVID-19) pandemic. This was announced by Plaza Indonesia Director Evy Tirtadisura in a stock exchange filing on Wednesday (2/12).
According to Ms Tirtadisura, the company has appointed professional and capital market supporting institutions to exercise the corporate action since an EGM on 20 March 2020. "However, due to the ongoing COVID-19 pandemic and large-scale social restrictions, we have not been able to come up with a feasible timeline," she said.
The company, she said, currently focuses on mitigating the impact of COVID-19 and carrying out other preventive effort to prevent the spread of the virus in its business environment. She added that the pandemic has also influenced investors' interest in participating in the rights issue.
"The company will hold an AGM to ask for an extension of the rights issue plan if it does not go as planned in the schedule," said Ms Tirtadisura. (LK/MS)