JAKARTA – PT Habco Trans Maritima Tbk (HATM) plans to raise capital through a rights issue.

In this corporate action, HATM will issue 1.68 billion new shares with a 25:6 ratio, meaning that for every 25 existing shares, shareholders will receive 6 rights to purchase new shares.

The exercise price for these new shares will range from IDR 300 to IDR 320 per share, which is higher than the regular market price of IDR 240 per share.

“With this rights issue, the company has the potential to raise between IDR 504 billion and IDR 538 billion,” said Antonius Limbong, Corporate Secretary of HATM, in a disclosure on Sunday (16/2).

However, the controlling shareholders of HATM have confirmed that they will not exercise their rights in this corporate action, which will dilute their ownership from 82.27% to 66.35%.

In this rights issue, PT Multi Sarana Nasional (MSN) will officially enter as a new investor with a potential shareholding of between 15.92% and 19.35%. However, the exact shareholding of MSN will depend on the decisions of other shareholders.

Shareholders wishing to participate in this rights issue must hold HATM shares by April 17, 2025, while the trading and redemption of the rights will take place from April 22 to 28, 2025.

The proceeds from the rights issue will be used to repay debt and fund the company's capital expenditure.

“If the funds are used for debt repayment, the debt-to-equity ratio (DER) will decrease, while if used for capital expenditure, the company's assets and operational capacity will increase,” he said. (DK/KR/ZH)