JAKARTA. PT Pyridam Farma Tbk (PYFA), a pharmaceutical company operating since 1997, has managed to obtained approval during the Extraordinary General Meeting of Shareholders (EGMS) regarding the capital increase with pre-emptive rights, also known as rights issue.

The number of new shares issued by PYFA is 16 billion shares. Each share is valued at IDR 100.

For the record, the EGMS was held on January 4, 2024. In the information disclosure published today (9/1), it is mentioned that the management of PYFA is given the mandate to determine the offering price and the ratio for the rights issue.

According to IDNFinancials data, PYFA’s rights issue plan have been announced since November 2023. This plan will be carried out in order to improve the capital structure of the company.

In general, PYFA will allocate the rights issue proceeds to support its operational activities. However, it does not rule out the possibility of the proceeds be used for funding investments in the future. (KR/ZH)