JAKARTA – PT Citra Putra Realty Tbk (CLAY) aims to secure IDR 200 billion of fresh funds by issuing 1 billion shares of IDR 100 each. This plan had been approved by the shareholders during the Extraordinary General Shareholders Meeting last week (6/4).

“The meeting unanimously agreed upon the change of the articles of association regarding the issued and paid-up capital increase,” Beni Hendrawan, Director of CLAY, announced in the minutes of meeting, quoted today (11/4).

According to Hendrawan, this corporate action plan will allow foe more positive operational and financial performances. However, the detail regarding the schedule, offering price, and warrant issuance, are yet to be further determined.

The proceeds of this rights issue will be utilised for investment, which will then serve as additional value and reinforce its working capital structure.

As of now, CLAY’s shares clock up to 2.57 billion units, 77.77% of which belong to PT Citra Putra Mandiri (CPM), leaving the remaining 20.23% to domestic investors and 0.01% to UK and the Philippines investors. (LK/ZH)