JAKARTA. PT Merdeka Battery Materials Tbk. (MBMA) will conduct a rights issue of up to 10% of total issued and fully paid up by the Company. Approval for this corporate action plan will be sought at the Annual General Meeting of Shareholders (AGMS) on June 21, 2024.

MBMA management explained that the rights issue plan is to strengthen the company's capital structure, which in detail will be used for general liquidity needs, capital expenditure, working capital and business development for MBMA, its subsidiaries and associated entities.

"The company plans to carry out rights issuel within a 12 month period," wrote management, Thursday (16/5/2024).

If shareholders do not exercise their rights in the rights issue, then the shareholder's ownership will be diluted to a maximum of 9.1% of their total share ownership in MBMA. (AM/LM)