JAKARTA. PT Multipolar Tbk (MLPL), an investment company under Lippo Group, would offer 3 billion shares along with preemptive rights, also known as a rights issue.
In the information disclosure in Indonesia Stock Exchange (IDX) earlier today (18/10), the management announced that the newly issued shares are all Series C shares. Each share is face-valued at IDR 100.
MLPL has yet to decide the execution price of these upcoming shares. However, if we referred to MLPL’s closing price during today’s trading session, which reached IDR 360 per share, this rights issue might potentially generate fresh funds of IDR 1.08 trillion.
“The company is planning to use all the proceeds raised from the rights issue VII (after subtracting all commissions, fees, costs, and other expenditures) to pay some of the company’s bank debts, fund business expansion, and/or make investments,” the management revealed.
MLPL would register the rights issue statement to the Financial Services Authority (OJK) on November 24, 2021. Once the approval from the shareholders is secured, this upcoming rights issue is set to conclude by Q1 2022. (KR/ZH)