JAKARTA. PT Bintang Samudera Mandiri Lines Tbk (BSML), a marine transportation service provider, will issue a capital raise with pre-emptive rights, also known as a rights issue, by issuing 46.25 million new shares.

The number of issued shares is equal to 17.78% of BSML’s issued and paid-up capital of BSML post-rights issue. Each share is offered with a price of IDR 300, allowing the company to raise fresh funds of up to IDR 120 billion in this corporate action.

The management of BSML has mentioned that PT Goldfive Investment Capital (GIC), the owner of 46.62% of its shares, will not exercise the entire allocated rights. Following its step, Nengah Rama Gautama, the owner of another 14%, will also not participate and exercise their entire rights.

GIC and Nengah Rama Gautama will then transfer their rights to public investors. Both parties had agreed upon PT Samuel Sekuritas Indonesia as the selling party, which will offer those shares to public investors.

The distribution of pre-emptive rights is scheduled to take place on November 14, 2023, followed by the listing of new shares on Indonesia Stock Exchange (IDX) on November 15, 2023. (KR/ZH)