JAKARTA. PT Multi Artha Pratama (MAP) has declared its willingness to exercise its entire rights in a capital raise of PT Pantai Indah Kapuk Dua Tbk (PANI) through granting pre-emptive rights, also known as rights issue.

It is stated by the management of PANI in an information disclosure in Indonesia Stock Exchange (IDX) today. The portion of rights to be exercised by MAP consists of 7.04 billion shares, or equal to approximately 88.07% of PANI’s shares.

As mentioned by IDNFinancials before, PANI will issue 8 billion new shares in this upcoming rights issue. The number of new shares is equal to 37.16% of its total issued and paid-up capital.

Each new share has a face value of IDR 100. However, PANI has yet to decide on the offering price for this rights issue.

The management of PANI will ask for approval from its shareholders for this rights issue plan in a meeting scheduled to take place on September 15, 2023. The decision will be out on September 19, 2023. (KR/ZH)