JAKARTA. PT Bank Mayapada Internasional Tbk (MAYA), a banking company owned by Dato Sri Tahir, is arranging a capital raise with pre-emptive rights, also known as rights issue. 

In this corporate action, MAYA will issue 27 billion units of series B shares. Each share has a face value of IDR 100, thus totalling to IDR 2.7 trillion.

Prior to this, in late 2022, MAYA only intended to issue 20 billion new shares worth IDR 2 trillion. "However, as we consider the current market condition, and the capital increase plan, the boards of directors and commissioners of the company agreed that the result of EGMS of November 29, 2022, needs to be adjusted," the management of MAYA mentioned in the information disclosure.

The entire proceeds of MAYA's rights issue will be used to enhance it's capital structure. With this plan, the company will gain extra core capital (tier-1) and working capital for business expansion.

The rights issue is projected to take place no longer than 12 months after EGMS, or in other words, no later than November 22, 2023. (KR/ZH)