JAKARTA – PT Energi Mega Persada Tbk (ENRG) plans to issue up to 2.48 billion new shares through a capital increase without pre-emptive rights (PMTHMETD), also known as a private placement.

The number of new shares represents 10% of ENRG’s issued capital, as recorded in Deed No. 102 dated 27 August 2021.

ENRG’s management will present the plan to an Extraordinary General Meeting of Shareholders (EGMS), scheduled to take place on 26 June 2025 in Jakarta.

This corporate action is expected to be completed within two years of EGMS approval, in line with Financial Services Authority Regulation (POJK) No. 14/2019 on PMTHMETD.

“These new shares will be offered to one or more strategic investors. However, as of the date of this disclosure, the identities of the prospective investors have not been determined,” said ENRG’s management in a public disclosure on Tuesday (20/5).

All proceeds from this corporate action, after deducting implementation costs, will be used to support the company’s working capital and capital expenditure needs, including those of its subsidiaries.

The company has also left room to adjust the use of proceeds depending on future requirements.

This private placement scheme is expected to result in a maximum ownership dilution of 9.091% for existing shareholders who do not participate.

The offering price for the new shares will be set based on Indonesia Stock Exchange (IDX) regulations, at no less than 90% of the average closing price of ENRG shares over the past 25 trading days prior to the listing application.

Over the past five trading days, ENRG’s share price has hovered at IDR 220 per share. However, during the first trading session today, Wednesday (21/5), as of 9:10 AM WIB, the share price had risen by 4.59% to IDR 228. (DK/KR/ZH)