JAKARTA - PT MAP Boga Adiperkasa Tbk (MAPB) seeks IDR 625.22 billion to reinforce capital structure and promote expansion via a rights issue. This corporate action is projected to take place by the end of this year.

In the corporate action quoted Tuesday (11/4), Liryawati, Corporate Secretary of MAP Boga Adiperkasa, explained that the shares that will be issued amount to 217.09 million, with a price set to IDR 2,880 per share.

As of now, MAPB has 2.17 billion shares of IDR 100 each. Then, 79.09% of them belong to PT Mitra Adiperkasa Tbk (MAPI), leaving another 19.40% to GA Robusta and 1.19% to the public (less than 5% each).

After this rights issue, MAPB’s shares will be rounded up to 2.38 billion shares. MAPI will still hold 71.90% of them, followed by GA Robusta of 17.63%, the public of 1.08%, and another portion for the public of 9.09%.

This corporate action will then be further discussed during the Extraordinary General Shareholders Meeting on May 17, 2023. The rights issue itself is expected to be carried out on December 12, 2023. (LK/ZH)