JAKARTA - PT Bintang Samudera Mandiri Lines Tbk (BSML) will initiate a rights issue of 400 million shares, the proceeds of which will be used to pay off some of its obligations. In this rights issue, shareholders refusing to exercise their rights to acquire newly issued shares will have their stock portions diluted by a maximum of 17.8%.

In the information disclosure quoted Friday (15/3), this rights issue plan will be further discussed during the Extraordinary General Meeting of Shareholders next month (17/4). This corporate action will take place no later than 12 months after securing approval from shareholders and the effective statement from Financial Services Authority (OJK).

The management of BSML will utilise the proceeds to pay off some of its obligations, as well as acquiring productive assets and strengthen the company’s capitalisation structure.

As of February 29, 2023, BSML’s shares were recorded 1.85 billion, with shareholders consisting of PT Goldfive Investment of 49.86%, Ariyanti Pelita Sari of 4%, Nengah Rama Gautama of 14%, David Desanan Anan of 4%, Pramayari Hardian of 4%, and the public of 24.14%.

BSML’s shares that belong to controlling parties were equal to 63.68%, and non-controllers own another 36.14%. Nengah Rama Gautama is listed as the ultimate beneficial owner of the shares. (LK/ZH)