JAKARTA. PT Matahari Putra Prima Tbk (MPPA), a retail issuer owned by PT Multipolar Tbk (MLPL), plans to issue 8 billion new shares by providing pre-emptive rights (HMETD) or rights issue.

Each new MPPA share has a nominal value of IDR 50 per share. Meanwhile, the price for the rights issue will be announced after the company obtains approval from shareholders on April 19, 2023.

In an official statement, MPPA plans to use the proceeds from the rights issue to support the company's online and offline retail business strategy in the future. Details of the use of funds will be submitted again by the company, following the technical determination of the rights issue.

According to data from idnfinancials.com, MPPA's share price in today's trading closed down 5 points or 5.49% to IDR 86 per share. Assuming that the price for the rights issue is IDR 86 per share, the company has the potential to reap fresh funds of up to IDR 688 billion in this corporate action.

As of 28 February 2023, 39.23% of MPPA's shares were owned by MLPL. Then, BNYM Re Consilium Frontier Equity Fund owns 7.48% of shares, PT Goto Gojek Tokopedia Tbk (GOTO) 5.98%, and public investors 47.31%. (KR/LM)