JAKARTA. PT Sejahteraraya Anugerahjaya Tbk (SRAJ), owner of Mayapada hospitals, will increase its capital through a rights issue by issuing a maximum of 18 billion shares with a nominal value of Rp 100 per share.
In a stock exchange filing, the company said the capital increase aims to strengthen its capital structure, increase revenue, and improve its performance so that it can pay a dividend to its shareholders. "The corporate action will also increase [the company's] market capitalisation and the liquidity of its shares," the company said in the filing on Tuesday (29/12).
The company plans to use proceeds from the rights issue, excluding issuance costs, as working capital.
According to data from the Indonesia Stock Exchange (IDX), as of 30 November 2020 the company had only 12 billion placed and paid-up shares. PT Surya Cipta Inti Cemerlang owns a 59.99% stake in the company, High Pro Investments Ltd 18.17%, Bnym SA/NV 9.63% and public investors 12.21%.
SRAJ will seek shareholders' approval for the rights issue plan in an EGM on 8 February 2021. (AM)