JAKARTA. PT Envy Technologies Indonesia Tbk (ENVY), an information technology services and trading company, will carry out a Capital Increase by providing Pre-emptive Rights (PMHMETD) or a rights issue of 2.51 billion new shares.

The number of shares to be issued by ENVY is equivalent to 58.26% of the issued and paid-up capital after the rights issue. Each share has a nominal value of IDR 100, with an offering price that has not yet been determined.

However, in its official statement, PT Envy Manajemen Konsultansi as the owner of 7.24% of the shares, will exercise its entire share in the rights issue.

ENVY will seek approval from its Extraordinary General Meeting of Shareholders (EGMS) on April 30, 2024, regarding the rights issue. Furthermore, this corporate action will be carried out no later than 12 months after the Extraordinary GMS.

"The planned use of funds obtained from PMHMETD I after deducting issuance costs is for the implementation of the company's business expansion, both organically and non-organically and/or additional working capital," wrote ENVY Management, in its official statement.

According to idnfinancials.com data, ENVY shares have been suspended by the Indonesia Stock Exchange (IDX) since December 1, 2020. The suspension period of the company's shares has reached 36 months since December 1, 2023 yesterday. (KR/LM)