JAKARTA - PT Lippo Cikarang Tbk (LPCK) is eyeing extra capital through rights issue of a maximum of 3 billion shares worth IDR 500 per share. This plan will be further discussed and decided during Extraordinary General Meeting of Shareholders on November 19.

In the short prospectus quoted today (12/11), this corporate action is said to positively affect the company’s financial condition, particularly for business expansion. This corporate action will then take place no later than Q1 2025 after securing the supposed approval next week.

When this announcement was made yesterday (11/11), LPCK was closed at IDR 750 per share. Total transaction volume was 557,500 shares, valued at IDR 425.46 million in total.

LPCK’s authorised capital will raise to 7 billion shares from the previous IDR 2.7 billion worth IDR 500 each. Its issued and paid-up capital will also soar to 5.67 billion from 1.33 billion shares, whereas its stock in portfolio will drastically shrink from 10.20 billion to 1.32 billion shares. The shareholders consist of PT Kemuning Setiatama of 80.83% and the public of 19.17%.

Until H1 2024, the company reported cash and cash equivalent of IDR 179.76 billion, much lower from cash and cash equivalent recorded in December 2023 of IDR 206.10 billion. LPCK reported net profit declining to IDR 71.12 billion from IDR 73.36 billion. (LK/ZH)