JAKARTA. PT Solusi Sinergi Digital Tbk (WIFI), a digital service and fibre optic network provider, will raise capital by granting pre-emptive rights, also known as rights issue, of 4.96 billion shares.

The number of shares issued by WIFI is equal to 68.75% of total issued and paid-up capital after rights issue. Each share is valued at IDR 100.

WIFI has gained approval from the Extraordinary General Meeting of Shareholders held on August 14, 2023. In said meeting, the company was granted a green light from 99.99% of shareholders to carry on with the rights issue plan.

The shareholders also grant power and authority to the Board of Directors of WIFI to set the offering price for the rights issue. In addition to this, the board of directors will have the control to determine the ratio and the schedule of the rights issue.

At the end of trading session in Indonesia Stock Exchange (IDX) last Wednesday (16/8), WIFI’s closing price was seen weakening 2% to IDR 196 per share. Assuming that the offering price will match said price level, the company will potentially gain fresh funds of up to IDR 972.49 billion in this upcoming rights issue. (KR/ZH)