JAKARTA. PT Garuda Indonesia (Persero) Tbk (GIAA) estimates proceeds of IDR 12.4 trillion from conducting the capital increase with pre-emptive rights, also known as a rights issue. Said projection may be realised should all public investors and Trans Airways exercise their rights in the forthcoming corporate action.
In the information disclosure in Indonesia Stock Exchange (IDX) earlier today (7/9), the management of Garuda Indonesia stated that all public shareholders and PT Trans Airways are welcome to participate in the rights issue.
However, up to this point, the management has yet to receive any official confirmation regarding Trans Airways’ decision to partake in said rights issue. GIAA then promised to release an information disclosure regarding the involvement of Trans Airways in its rights issue, as mandated by the applicable Financial Services Authority Regulation (POJK).
The management then also warned that the shareholders who refuse to participate in the rights issue will have their portions diluted by a maximum of 90.54% after the rights issue. (AM/ZH)