JAKARTA. PT Jasnita Telekomindo Tbk (JAST) plans to raise its capital by giving preemptive rights, or a rights issue, of 406.81 million new shares with a face value of IDR 100 each. The proceeds of this corporate action would then be utilised to fund business expansion.
This information was conveyed through the prospectus released on Indonesia Stock Exchange yesterday (11/8). In this rights issue, those who hold two shares would be granted one preemptive right that could be converted to one unit of share. That one share also includes one Series I warrant.
The company would spend the raised funds on purchasing 2.94 million shares of Oakfield Group Limited (OGL) planted in PT Cozmo Services Apartments (CSA). It is equivalent to acquiring 98% ownership.
This acquisition aims to secure a company that runs in the apartment management business and the supporting management units, including cleaning service, security, catering, restaurants, cafes, pools, and gyms. Thus, JAST could enrich its client base and diversify its business at the same time. (AM/ZH)