JAKARTA. PT Gaya Abadi Sempurna Tbk (SLIS), an electric vehicle manufacturer, is arranging a capital increase with pre-emptive rights, also known as a rights issue, of 2 billion shares of IDR 50 each.
In the information disclosure in Indonesia Stock Exchange (IDX) yesterday (29/11), SLIS mentioned that alongside the shares in the rights issue, the company will also issue 700 million series I warrants at most, which will be disbursed for free to shareholders who takes part in the upcoming corporate action.
The management also stated that the offering price of rights issue shares and warrants will be determined and announced publicly in the prospectus of the rights issue while still conforming to the applicable regulation. For the shareholders who choose not to participate in the rights issue, their portions will be diluted by 50% at most.
SLIS then said that the proceeds of the rights issue, after taking out emission fees and the proceeds of warrant I issuance, will be entirely advanced to its subsidiary, PT Juara Bike, as an additional working capital. (AM/ZH)