JAKARTA. PT Malacca Trust Wuwungan Insurance Tbk (MTWI) has set the price that will be exercised in the capital raise with pre-emptive rights, also known as rights issue, to IDR 100 per share.
With this price level, MTWI will potentially gain fresh funds of up to IDR 139.87 billion. As mentioned before, the company will issue 1.39 billion units of new shares in this rights issue.
Every investor that owns 12 old shares of MTWI will be eligible to receive 11 pre-emptive rights, each of which will give its holders rights to purchase one new shares. The investors that refuse to exercise their rights to acquire new shares of MTWI will have their portions diluted by up to 47.83%.
PT Batavia Prosperindo Internasional Tbk (BPII), as the controlling shareholder of MTWI, has declared its commitment to take up the entirety of its allotted rights over new shares.
The recording date of this rights issue has been set by the management of MTWI to December 28, 2022. Meanwhile, the listing of those new shares will take place on December 30, 2022. (KR/ZH)