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Berlina arranges another rights issue, this time of 244.78 million shares

13 June 2022 20:22

JAKARTA. PT Berlina Tbk (BRNA), a plastic and fiberglass goods manufacturer, will once again increase the capital with the preemptive rights, also known as conducting a rights issue, in order to strengthen its capital.

Dewi Hartanti, Corporate Secretary of BRNA, revealed that the newly issued shares in this upcoming corporate action will amount to 244.78 million units, each is worth IDR 50.

The number of shares issued will be equal to 20% of BRNA’s issued and paid-up capital. “In the event that the shareholders decide not to exercise its premptive rights, their ownership percentage over the company’s shares will be diluted to a maximum of 20%,” Hartanti explained in the information disclosure in Indonesia Stock Exchange (IDX).

Then, the proceeds secured by BRNA from this rights issue will be utilised to cover general needs of the company and its subsidiaries. These include loan repayment, capital expenditure, and working capital.

The company will hold an Extraordinary General Shareholders Meeting on July 20, 2022, prior to the execution of the rights issue.

Based on idnfinancials.com data, BRNA’s stock price was closed at IDR 1,085 per share in today’s trading session. With this level of stock price, the rights issue of the company may generate IDR 265.58 billion in return. (KR/ZH)

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