KAEF - PT. Kimia Farma Tbk

Rp 1.175

+10 (+0,85%)

JAKARTA. PT Kimia Farma Tbk (KAEF) gears up to welcome new strategic investors through a rights issue that is scheduled to be completed in July 2022. This state-owned pharmaceutical company aims to score IDR 4.5 trillion through this rights issue.

Lina Sari, Financial and Risk Management Director of Kimia Farma, announced the plan to raise the capital with preemptive rights, also known as a rights issue, still aligns with the target and is ready to be held in Q2 2022. “The process has now enter the final binding offer phase, still going according to the timeline,” she revealed through the public expose yesterday (11/5).

Sari also mentioned about the new strategic investors that will enter KAEF as its newshareholders. “Our target is by July, we would already have received the fixed names of the strategic investors in Kimia Farma,” she added. Sari expected KAEF’s performance to improve once this new strategic investor arrives.

Meanwhile, the rights issue proceed will be utilised by the company to cover expansion costs and cut some long-term credits owed by KAEF. “Our target is set to approximately IDR 4.5 trillion, which will be allocated to expand Kimia Farma Group’s business and debt refinancing,” Sari claimed. (AM/ZH)