JAKARTA. PT Cashlez Worldwide Indonesia Tbk (CASH), a digital payment provider, will collect fresh funds by using 450 million new shares along with preemptive rights, also known as a rights issue.
The management of CASH said that each issued share will have a face value of IDR 12. However, the execution price will only be announced once the company wraps up its Extraordinary General Shareholders Meeting on February 21, 2022.
In the information disclosure in Indonesia Stock Exchange (IDX), the company management plans to channel some portion of the rights issue proceeds to the working capital. Additionally, the rights issue proceeds will also be spent on capital expenditure and acquisitions of other businesses, which will further support the business.
“The rights issue plan is envisioned to affect the company’s ability in improving its capital structure,” the management further said.
Currently, no investors have been announced as the standby buyer in the rights issue. However, the portions of non-participating investors in this corporate action are estimated to be diluted by up to 23.92%. (KR/ZH)