JAKARTA. PT Citra Marga Nusaphala Persada Tbk. (CMNP) will conduct a rights issue of 2.23 billion shares with a nominal value of IDR 500 per share.

Quoting the disclosure of information on the website of the Indonesia Stock Exchange (IDX), all funds obtained from the rights issue, after deducting issuance costs, will be used entirely for capital loans to subsidiaries for the development of the Ir. Wiyoto-Wiyono, MSc and the construction of the Depok-Antasari Toll Road Section 3 to Section 4.

CMNP shareholders who do not exercise their right to subscribe for new shares offered in the rights issue will have their ownership diluted by a maximum of 25%. The rights issue plan will seek approval at the 2023 Extraordinary General Meeting of Shareholders (EGMS) which will take place on May 10, 2023.

The rights issue will be carried out immediately after the registration statement is declared effective by the Financial Services Authority. (AM/LM)