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Planning to expand its business, PURA arranges a private placement

22 December 2021 11:18

JAKARTA. PT Putra Rajawali Kencana Tbk (PURA) would issue 576.87 million new shares without any preemptive rights, also known as a private placement scheme, to fund its business expansion plan.

The total newly issued shares would be equal to 9.99% of PURA’s issued and paid-up capital. The management also claimed that this corporate action would not change the controlling shareholder position as the number of shares does not exceed 10% of the entire shares.

“The board of directors of PURA believed that the company must strengthen its capital structure in order to support the business expansion. Currently, the company is extending its supply chain logistic market to Sumatra,” the management revealed in the information disclosure in Indonesia Stock Exchange earlier today (22/12).

PURA would conduct its Extraordinary General Shareholders Meeting to proceed with this private placement plan. It would be scheduled for January 27, 2022.

As of November 30, 2021, PT Rajawali Inti still controls 16.42% of PURA’s shares. Then, PT Rajawali Dwiputra Indonesia claims another 13.13%, followed by PT Igelcorp Asia Kapital with 7.9%, PT Igelcorp Nusantara Kapital 5.11%, and public investors 57.44%. (KR/ZH)

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