JAKARTA. PT Sejahteraraya Anugrahjaya Tbk (SRAJ), a healthcare service provider under Mayapada Group, is issuing 1,200,070,544 new shares through a capital increase without pre-emptive rights, also known as private placement.

The number of shares issued by SRAJ will be equal to 9.09% of its issued and paid-up capital. The offering price will be set to at least 90% of its average closing price within the last 25 consecutive days in the regular market.

The management of SRAJ will first ask for approval during Independent General Meeting of Shareholders, which will be held August 12, 2024. Then, the private placement will take place no later than 2 years since the company obtains the approval.

“There have not been any definitive potential investors that will take over the new shares issued by the company in the upcoming private placement,” said the management in the official statement.

It is worth mentioning that SRAJ plans to use private placement proceeds for the development of a hospital project, in which includes capacity increase and new hospital expansion. In addition, the company will also utilise some of the portion to pay back its loan to shareholder, PT Surya Cipta Inti Cemerlang. (KR/ZH)