JAKARTA. PT Yelooo Integra Datanet Tbk (YELO) plans a capital raise with pre-emptive rights, also known as rights issue, to raise funds of IDR 1.53 trillion.

The management of YELO mentioned that the number of shares that will be issued by the company amounts to 30.60 billion shares in total. They are equal to 94.12% of its issued and paid-up capital of the company. Each share has a face value of IDR 50, and will be offered for IDR 50 each.

The company will ask for approval during the Extraordinary General Shareholders Meeting that will be held on July 20, 2022.

In its official statement, the management of YELO said that the rights issue is intended to meet the need of quick and cheap funds to advance the fibre optic leasing project along the railway. Furthermore, the rights issue is intended to convert the debts to equity by PT Artalindo Semesta Nusantara (ASN).

According to IDNFinancials data, as of now, YELO’s stock price was stagnant at IDR 50 each. Within the past year, YELO has seen 56.52% decline in its price, 65 points power than IDR 115 per share seen last year. (KR/ZH)