JAKARTA. PT Lima Dua Lima Tiga Tbk (LUCY) will raise its capital by giving out pre-emptive rights, also known as rights issue, by offering 584,775,000 new shares.

The management of LUCY confirmed that this corporate action is intended to support the company’s business expansion plan, both organically and inorganically. On top of this, the company also plans to establish new business lines, including a special event management service and restaurant businesses.

Each new share issued by LUCY has a face value of IDR 10, while the offering price will be publicly disclosed in the near future.

The management of LUCY will then utilise IDR 23 billion of the rights issue proceeds to acquire 54% of PT Graha Senopati Sentosa (GSS), a food and beverage supplier. Another IDR 11 billion will also be spent on taking over 51% of PT Kreasi Sejahtera Bahagia (KSB), leaving the remaining portion to fund the business expansion.

For the record, GSS and KSB’s shares will be bought from Dimas Wibowo dan Hermansyah, affiliates of LUCY. Therefore, the company will need to ask approval from its shareholders during the Extraordinary General Shareholders Meeting in Jakarta next Tuesday (23/5). (KR/ZH)