JAKARTA. PT MNC Energy Investments Tbk (IATA) will increase capital through pre-emptive rights, also known as rights issue, through the issuance of 20.19 billion new shares.

Each new share has a face value of IDR 50, with unspecified offering price.

The management of IATA will first ask for approval from the shareholders regarding said corporate action. The meeting is set to December 18, 2024.

In the official disclosure, the management of IATA mentioned that the proceeds raised from the rights issue will be allocated to working capital. This includes investment capital for several subsidiaries.

It is worth mentioning that IATA’s rights issue might potentially dilute up to 44.44% of series B shares should the investors choose not to participate in this new shares’ issuance.

According to IDNFinancials data, as of now, public investors claim 24.38% of IATA’s series B shares, while PT MNC Asia Holding Tbk has another 47.25% of series B shares. (KR/ZH)