JAKARTA. PT Pantai Indah Kapuk Dua Tbk (PANI), a holding company of real estate and fishery product processing business, will increase its capital through pre-emptive rights, also known as rights issue.

The number of shares issued by PANI in this corporate action is 2.09 billion shares, equal to approximately 13.42% of total issued and paid-up capital. Each share has a face value of IDR 100 and will be offered for IDR 5,000 per share.

With this offering price, PANI is projected to raise fresh funds of IDR 100.49 trillion from its rights issue.

For the record, each shareholder of PAN in possession of 200 shares by the recording date on December 4, 2023, will be entitled to gain 31 pre-emptive rights. Then, each pre-emptive right will give access to its holders to purchase one new share of the company.

PT Multi Artha Pratama (MAP), as the current owner of 88.07% of PANI, has declared its commitment to take over the portion of all rightful new shares. MAP will also serve as the standby buyer of shares unclaimed by other shareholders.

In this prospectus, PANI is said to allocate all proceeds of rights issue as capital investment to subsidiaries. The capital investment will then be utilised for operational needs and extra fund to support business expansion. (KR/ZH)