JAKARTA - PT Maharaksa Biru Energi Tbk (OASA), a new and renewable energy (NRE) company under the command of Bobby Gafur Umar, is getting ready for a capital increase without pre-emptive rights, also known as private placement, of 634.7 million units of common shares.

According to information disclosure today (20/6) in Indonesia Stock Exchange (IDX), 90% of the corporate action’s proceeds will be utilised for expanding the waste management project led by its subsidiary, PT Indoplas Makmur Lestari (IML).

IML, through its subsidiary, PT Indoplas Karya Energi (IKE), will collaborate with PT Wijaya Karya Tbk (WIKA) in a consortium to handle the intermediate waste processing facility. This waste management is projected to generate electricity, which will be taken over by PLN.

Meanwhile, 10% of the remaining proceeds will be channelled to another subsidiary, PT Mentari Biru Energi (MBE), to advance its biomass project via the construction of a wood chip factory in Bangka Belitung.

The offering price, as well as the detailed schedule of this corporate action, have yet to be determined, as the company shall await the approval from its shareholders in the upcoming Extraordinary General Meeting of Shareholders.

Appropriate to the issued shares in the private placement, this corporate action is projected to increase the equity by 10%, from IDR 664.56 billion to IDR 728.03 billion. Meanwhile, the ownership percentage of the shareholders will be diluted by a maximum of 9.09%.

Until now, OASA has yet to announce the name of the new potential investor that will take over said portion. (ZH)